© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
One of the biggest challenges within this industry is being able to satisfy and manage owners’ expectations of their perception of what a property management company should provide to them against the reality of what they are contracted to provided to them. Often there is a huge variance between these two factors.
It never ceases to amaze me as to how poorly informed owners and Directors (RTM companies) are over these expectations and it would often seem that they have made their largest purchase/investment of their life and frankly have not fully considered the legal aspects of buying a long term lease. This is particularly evident when it comes to purchases made into older style properties which have obviously not been properly cared for over the years. It really is not necessary to be a fully qualified building surveyor to be able to notice that the roof is way past it’s sell by date and that the lift moans and groans as it makes its way (just) up through the building to spot the 1930’s style wallpaper on the walls! Obvious tell- tell signs that this is a building that is going to be costing money very soon and guess who will be paying…..look then at the very low service charge being presented to you with no provision for these works to be paid for!
No, No and No the management company does not fund these works from their management fee charged.
Did this owner read the lease? Or did they engage the services of a professional property solicitor to interpret this for them and did they read and understand the solicitor enquiry pack and possible implications of some of the answers? Again often and sadly, No has to
be the answer.
Owners of Leasehold properties do often look to their managing agent to resolve every single issue that they have within their own apartment but so often these are matters that are down to the owner themselves to sort out or in the event of them letting out the property then to the letting agent to resolve.
It is not possible and is also unrealistic to think that a property manager can resolve every issue and every problem (we will certainly try and have certainly heard it all!), however some matters and issues are historical problems which cannot magically be resolved by changing the managing agent! Unrealistic service charge levels are often the cause of any managing agent’s inability to properly and fully manage the requirements of the building.
Communication is key to effective property management and keeping all parties fully informed as to what and when matters are being dealt with. However, as an industry we also need to focus our communication efforts on better informing purchasers of flats. Understanding leasehold property purchases is both daunting and confusing to say the least which is where it is essential that a professional property management company and solicitors are engaged as soon as possible.