Block management in the UK is typically paid per unit in the block and can be anywhere between £100 to £700 based on a range of factors.
As block management quotes are always done on a bespoke basis, there is no single fixed price. Prices will vary based on the location as well as the services that the block needs included.
At J Property Management London, we prepare tailor-made block management plans for London property owners and handle the stressful day-to-day of property ownership. Whether your block is small or large, a new-build, an estate or a conversion, we offer full block management services to suit your needs. Contact us today to see how we can help.
What Is Block Management?
Block management is when the financial and operational responsibilities of a block of flats are outsourced to an external company. This company then handles the management of the multiple properties within the block, even though the individual properties within the block may be owned by different leaseholders.
Within block management, the external company could handle a range of things such as tenant queries, regular maintenance and repairs of communal areas, block finances, and more. Each building has its own specific requirements and needs.
Who Are Block Management Services For?
Block management is for both the owners and residents of multi-unit residential blocks of flats.
Any type of block can use block management services including:
- Low-rise blocks
- High-rise blocks
- Converted buildings
- Mixed-use blocks
- Luxury residential blocks
- Housing association blocks
- Local authority blocks
- Build-to-rent blocks
- Student accommodation blocks.
What Do Block Management Prices Include?
Block management services cover a range of different responsibilities depending on what the specific block needs. Here are just some of the services that block management could include:
Resident Health And Safety
Legislation surrounding building guidelines and health and safety regulations are constantly changing, making it difficult to keep track with legal obligations. Employing a block management company means that they will stay on top of any legal compliance for the block, making sure that it is compliant with up-to-date laws and guidelines. Health and safety laws may include things such as fire safety laws and pedestrian access. They can help identify any updates that need to be made to minimise risk for residents and oversee that the measures are implemented.
Tenant Queries
One of the main difficulties of block management is having to answer to residents. From complaints to repairs, there are lots of things that can crop up on a day-to-day basis which can be draining and time-consuming.
External block management companies can handle this for you – dealing with tenant queries and concerns promptly and professionally to keep your residents happy.
Regular Maintenance And Repairs
Block management companies can take responsibility for the upkeep and maintenance responsibilities of all communal areas within a block. This might be the staircase, lifts, entrance hall or garden areas. The external company will take responsibility for scheduling regular maintenance checks as well as carrying out repairs quickly and efficiently. The repairs could include:
- Structural repairs
- Fixing plumbing and electrics
- Interior and exterior repairs of communal areas
- Repairs concerning heating and cooling.
Financial Management
External block management companies can also take care of the building finances including budgeting and forecasting for necessary payments like employing maintenance staff and contractors for repairs. They can also handle the collection of service charge and ground rent to ensure that any resident disputes are swiftly dealt with and that payments are received.
Factors Influencing Price Of Block Management
Block management quotes are done on a personalised basis to suit the specific requirements of the block and its residents. Here are some of the influencing factors that affect block management cost:
- Number of site visits needed
- 24/hour service for residents
- Number of face-to-face director meetings required
- Specific requirements from the AGM
- Management of staff
- Complexity of the site / number of units in the block
- Features of the site (e.g. lifts, fire alarms, automatic gates)
Generally speaking, the bigger and more complex the site (e.g. more tenants and more facilities), the more time-consuming and expensive the block management will be.
Is Paying For Block Management Worth It?
Hiring an external company for block management can make a huge difference. Here are just some of the reasons why paying for block management is absolutely worth it.
Maximise Profits
Having an external block management company on hand to deal with issues as they arise means that any maintenance issues or repairs are dealt with as quickly and professionally as possible rather than letting them build up. This can save money for property owners in the long run as it nips problems in the bud before they become a more severe and expensive issue in the future.
Property Appreciation
Properties tend to increase in value over time – but only if they are in good condition and well maintained. When you work with a block management company, the building is professionally managed, undergoing regular maintenance and upkeep both internally and externally. This protects the property value and the owner’s investment keeping the asset well-preserved for potential resale at a future date.
Legal Compliance
One of the biggest headaches as a property owner is the ever-changing legislation. A key benefit of working with a block management company is that they will stay on top of any relevant laws and regulations for the building. They flag any changes needed to be made for compliance and oversee that these changes are implemented efficiently and cost-effectively. This can also protect the property owner from any expensive legal disputes in the future.
Peace Of Mind
Reassurance that a team of professionals has got your block management covered can provide valuable peace of mind – for both the property owner and the building’s residents. Whatever issues may crop up, experts are on hand to deal with them. This frees up time and energy for the property owner and allows them to enjoy the financial benefits of their property investment without the day-to-day stresses.
Block Management With J Property Management
Whether you need block management for a single block or are seeking portfolio property management for multiple blocks, we can help. At J Property Management, we are experts in block management across the UK. We offer a fully personalised approach, taking into account the specific needs of your block.
We take great care to understand your building, its needs and the needs of the residents, preparing a detailed block management plan to specifically suit your needs at an affordable price. Contact us today to get a personalised block management quote!
