14 reasons why you should be using a London Property Management Company

1. Extensive Legal Expertise

2. Comprehensive Financial Management

Proper financial management is the cornerstone of effective property management. Without it, service charges could spiral out of control, leaving building owners and residents to deal with costly surprises. A London Property Management Company not only provides an advanced accounting system but also offers strategic financial oversight, from reconciling accounts to planning for future capital expenditures.

• Strangford Management use the latest and most innovative property management software allowing us to provide our clients with real-time income / expenditure reports giving the added advantage of micromanaged financial management for past analysis, current statuses and future planning.

3. Expertise in Day-to-Day Repairs

The day-to-day maintenance of a building is as important as planning for major repairs. Whether the building is a historical Grade I listed property or a contemporary eco-friendly construction, every structure has its own unique needs. Over time, small maintenance tasks can quickly escalate if not handled correctly, leading to costly repairs.

• With over a decade of experience in the management, specifically of London’s residential buildings, Strangford Management has the knowledge and connections to professionally carry out the day to day management of your building with precision and speed.

4. Neutral Arrears Recovery Process

Handling late service charge payments can be a delicate issue, particularly when residents know each other personally. Tensions can easily arise when a neighbour fails to pay, but a London Property Management Company provides a neutral, professional party to mediate and recover overdue payments. This impartial approach is essential for maintaining harmonious relationships within the building.

• Having a strict yet personal service charge arrears recovery procedure, Strangford Management prove a valuable asset in the micromanagement of our client’s buildings along with their cash flow.

5. Efficient Problem Solving

Problems between neighbours, whether related to noise, parking, or maintenance, can sometimes escalate if not handled delicately. A Property Management Company can step in as a neutral, professional third party, mediating disputes and ensuring that any issues are resolved efficiently and amicably.

• Strangford’s London Property Manager’s provide a proactive on site presence, giving our clients a personal problem solving perspective. Being located in the Central London, we are located close to our clients allowing for immediate reaction to any issues that arise.

6. Access to Qualified Tradespeople

Finding a reliable contractor to perform maintenance or repairs can be a daunting task. Many turn to online searches or personal recommendations, but this doesn’t guarantee the quality or reliability of the contractor. A London Property Management Company has access to a network of trusted, fully insured, and experienced tradespeople who can efficiently handle any repair or maintenance task.

• Strangford Management maintain a trusted preferred contractor list. Contractors must sign up to a list of requirements prior to being allocated work with Strangford Management. Clients also have access to this contractor list as an option should private works be required within their flats.

7. Continuous Building Management

Building management isn’t a part-time job. In fact, it’s often a full-time commitment. When residents take on the responsibility, it’s usually in their spare time, which can lead to delays in dealing with important issues. A dedicated Property Manager, however, works around the clock to ensure that the building runs smoothly and that any issues are dealt with promptly.

• Strangford’s London Property Manager’s provide a proactive on site presence, giving our clients a personal problem solving perspective. Being located in the Central London, we are located close to our clients allowing for immediate reaction to any issues that arise.

8. Negotiation Leverage for Insurance Policies

Building insurance premiums are often one of the largest expenses associated with property management, and ensuring that you get the best deal can make a significant difference in the overall budget. A London Property Management Company has established relationships with insurance brokers and can use this leverage to negotiate competitive rates, ensuring you get the best coverage for your money.

• Strangford Management have a long relationship with a trusted, London Insurance Brokerage, providing clients with a minimum of 3 quotations annually, proving our value to reducing our client’s financial demands

9. Legal Requirements for Service Charge Invoices

Service charge invoices must adhere to specific legal requirements in order to be valid and enforceable. A London Property Management Company ensures that these invoices are correctly issued and in compliance with Landlord and Tenant Law.

• Strangford Management has extensive financial experience, guaranteeing the validity of invoices in compliance with legal requirements. Client’s invoices are also downloadable online via our client’s web portal (see more about what our client portal has to offer here).

10. Neutrality in Court Disputes

Disputes between leaseholders and landlords can sometimes escalate into legal battles. Whether it’s a breach of lease covenants or disputes over noise, having an experienced Property Manager who is knowledgeable in tribunal proceedings can be the difference between success and failure in court.

• Strangford Management Property Managers are formally trained in the tribunal process ranging from applications for decisions on Lease breaches through to major works dispensations.

11. Long-Term Capital Expenditure Planning

Effective property management goes beyond day-to-day repairs. Planning for long-term capital expenditure, such as roof replacements or façade repairs, is essential for maintaining the financial stability of the building. Without proper planning, these large expenses can lead to unexpected costs for residents.

• Strangford Management, within the initial 30 days of management, complete a building analysis including a capital expenditure, agreeing with all Leaseholders how the building will be maintained over the coming years.

12. Compliance with Legal Regulations

Residential properties must comply with a number of legal regulations, including health and safety, fire risk assessments, asbestos management, and legionella testing. Failure to meet these requirements can result in serious legal consequences.

• Strangford Management carry out monthly reviews of all compliance matters throughout their site inspections, completing any works swiftly to maintain a high level of safety.

13. Maximising Rental Yields

For buy-to-let investors, maximising rental yields is key to ensuring a successful investment. Poor service charge management can lead to unexpected costs, reducing the overall profitability of the property. A London Property Management Company can ensure that service charges are managed efficiently, helping to maximise rental yields and protect your investment.

• Strangford Management analyse financial data in order to micromanage spending, reducing any previously unforeseen costs.

14. 24/7 Emergency Support

Property management issues don’t only arise during business hours. A reliable Property Manager should be available around the clock to deal with any emergencies that may occur. Having someone on call who knows the building and can swiftly resolve issues is essential for maintaining the safety and comfort of residents.

• Strangford clients are provided with an emergency contact number should assistance be required so it may be swiftly resolved by an individual that knows the building and has the experience to manage the situation.

With all these benefits and more, contact us today to discuss how Strangford Management, your preferred London Property Management Company, can exceed your expectations in the management of your building.

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