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What services should your property management company provide?
The principal areas of property management are broadly as follows:
Contractor management: A Property Manager can source and instruct contractors and service providers to carry out any necessary works, which could be major works, to the highest possible standard. They can negotiate contracts and ensure that work is completed within budget and on schedule. This could include working with lift management teams, utility companies and security and maintenance firms. provide a legal services team in-house as per Rendall & Rittner in order to cover essential issues. These include credit control, lease consents, Company secretarial services, lease compliance and sale transactions. Health and Safety: Managing agents should ensure a property is compliant with relevant health and safety regulations, carrying out regular inspections and assessments to identify any potential hazards and risks. They should arrange for specialist checks and tests by contractors and specialists. There are a range of accreditations designed to showcase excellence in health and Legal services: Property managers should be able to safety management. These can be a good indication that a property management company is committed to delivering the highest possible standard and include: • British Safety Council 5-star accreditation • ISO 45001:2018 accreditation • RoSPA awards • Investors in People accreditation • IOSH training for employees
Supporting the RMC/RTM company Board and landlord: A property manager will advise the Board on residential landlord and tenant procedures and on a suggested management policy. The will also attend Board meetings and will provide a report on financial, maintenance and legal matters including significant leaseholder communications. They should keep the Board informed of the status of agreed actions. Full service managing agents such as Rendall & Rittner also offer Company secretarial services, for example preparation and distribution of the notices for the AGM/EGMs.
Finance: Handling the rent and
service charge collection ensuring these are held in client bank accounts, as well as a building’s financial performance through
Customer service: Acting as a central point of contact for residents and the management company, the managing agent should respond to any queries and concerns in a timely and professional manner providing informed feedback and details of any follow-up action. This process should be well co-ordinated with high visibility for all stakeholders. A good property management company will also be interested in receiving regular feedback from clients and residents to understand how to further enhance their service offering. At Rendall & Rittner, we measure our quality assurance through our regular client surveys and feedback received, both of which are reviewed and acted upon at Director level. Repairs and maintenance: Property managers oversee regular maintenance and repairs, working with contractors and service providers, such as cleaners, where necessary to maintain the upkeep of the building. They may administer insurance claims and prepare maintenance plans and contracts for plant and machinery. Thy should undertake site inspections to check conditions and deal with necessary repairs and manage any on-site staff such as concierge and porters.
accounting and budgeting services. The managing agent should also advise on cost efficiencies and identify areas for savings.
Some property management companies, such as Rendall & Rittner, that are Royal Institution of Chartered Surveyors (RICS) regulated offer further financial protection through the RICS Client Monies Protection scheme. This can provide further peace of mind for clients.
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