Running a residential block comes with a long list of responsibilities. A badly managed block can lead to a whole host of problems, from the costly effects of poor building maintenance to legal issues from not keeping up with new legislation.
Here is a quick summary of some of the main responsibilities which need to be taken on when running a residential block - and why you might be better off using a block management service:
Understanding Landlord and Tenant Law
Having a thorough understanding of the laws and legislation concerning landlords and tenants is absolutely vital, not only to ensure the smooth running of your residential block but also to make sure you don’t run into legal issues. Legislation surrounding freeholders and leaseholders changes frequently, and part of your responsibility as someone in charge of a block is to stay on top of all of these changes as and when they are made.
Complying with Health and Safety Regulations
Similarly to the above, as a block manager you also must comply with health and safety regulations. And in the same way as with new legislation, these also change regularly. These regulations are in place to keep you and your tenants safe, as residential blocks come with much more risks than normal houses because of the increased numbers of people living in them and the longer escape routes, among other things.
If you can’t keep up with health and safety regulations you could inadvertently put your tenants in danger. Some of the things to consider include:
- Fire safety
- Electrical safety
- Gas safety
- Building security
- Cleaning and hygiene
Regular and thorough risk assessments can help to keep these potential risks under control.
You must make sure that your residential block is fully covered by the correct insurance, and that your policy is renewed as and when necessary.
Maintaining accurate accounts is crucial when managing a residential block. Staying on top of outgoing payments for repairs, employees and contractors, as well as collecting service charges periodically are just a few of the factors that will go into the balancing of your budget.
Being in charge of a residential block isn’t just about paperwork! You also have to make sure the building itself is kept in the best condition possible through regular site visits and quick turnaround of essential maintenance and repair work. Leaving issues unresolved can often lead to further damage and more costly solutions. From this overview of some of the main responsibilities involved in being in charge of a residential block, it’s clear that running a block is a time consuming and specialised task. What’s more if you miss a step, whether that’s missing a new line of legislation or a leak in the roof, you could land yourself in serious trouble.
Thankfully we are here to help. At Plymouth Block Management we are ARMA (Association of Residential Managing Agents) compliant, which can offer you peace of mind in the currently unregulated block management industry. Let us do the work for you.
Get in touch with us for further information and to find out how we can help you.