Whether domestic or commercial, if you own a block that you rent out then the chances are that this will be taking over a large part of your life. With the ongoing administration and the never-ending maintenance needs, no matter how large or small, a block needs your constant attention. For some people this is acceptable, because they have the time to dedicate to it. But for others, it becomes more and more of an issue, and at this point they look to instruct a block management services company to take over.
Removing most, if not all, of the headaches associated with block management, it’s a popular choice for those wanting to claim time and headspace back. If you’re considering making the switch, then here are some questions to think about that could help you make up your mind.
How far away do you live from your block?
If the block you manage is on your doorstep, then it’s relatively easy to drop by and keep an eye on what’s going on. But if it’s more of a distance away then this needs to be taken into account. The time you spend travelling needs to be factored in when you’re looking at your bottom line. Is all the time and work you spend really worth your while?
Are you a people person?
Renting out a block always comes with a large responsibility to the people living or working there, along with any service providers/builders etc. Often, you’ll find yourself in the middle of neighbourly disputes, or having issues with builders etc. not turning up. If you’re not the sort of person who can give people your patience, time and attention then a block management company can take all of this stress away. You’ll be able to step back and leave them to resolve any issues or disputes in a calm and professional manner. This also means that any evictions etc. can be managed by someone else too. It truly can be a weight off your mind.
Are you willing to be contactable 24/7?
Running a block means being on call around the clock in case things go wrong. For many block owners, this is a dealbreaker. It can mean that you can’t go on holiday without organising cover. It means potentially being woken in the night because a fire alarm is going off or someone’s heating has gone down. All sorts of other things can go wrong that require urgent attention.
There are many other factors to think about when you’re considering handing over your property portfolio to a management company, and everyone has a different set of circumstances. But there’s no doubt that delegating the management to a respected and reputable firm comes with a wide range of advantages. At Plymouth Block Management we’re trusted to manage estates, freehold properties, and commercial and residential properties of all sizes, and we’d be delighted to help you with yours too.
If you’d like to find out more about our block management services and how we can help you, why not get in touch with our team? Our dedicated, award-winning experts are ready to help you from our Plymouth based office. So, give us a call on 01752 257338 to discuss the options we have available.