The Benefits of Professional Property Management Services for Property Developers
Utilising professional property management services is a necessity. Once developments are built, the obligations of the freeholder under the lease needs to be met. There needs to be stringent compliance check, consistent property upkeep, care and maintenance, which requires time, strategic planning and, above all else, expertise. This is where a reputable property management company can step in and offer invaluable assistance.
Reliable management includes legislation being abided by, lines of communication always being open, and protocols being followed at all times (more on that later!). Today, the POD team discuss some of the many benefits that come with utilising block and estate management services.
What Does a Property Management Company Do?
A property management company is responsible for upholding the terms of the lease - managing, maintaining, and repairing the common areas of a building or block of flats, ensuring they are in good condition and safe to use at all times. This includes entrances, stairwells, hallways and corridors as well as windows, walls, carpets, gardens, and parking areas. In some cases, this also involves looking after amenities such as gyms, cinema rooms, pools and play areas.
They are responsible for keeping the building running, which involves arranging and monitoring necessities like water supply, heating, lighting, drainage and the collection of rubbish and waste. Often, there are specialist teams procuring insurance, utilities, telecoms and where applicable, providing highly trained onsite staff for the buildings being managed.
They are contracted to provide all aspects of building management, including collecting service charges and ground rents, dealing with maintenance issues and providing support to residents. This involves dealing with day-to-day matters, keeping records of all works carried out and managing the finances of the building by setting a budget, managing income and expenditure and producing accounts. They also ensure that both the landlord and residents comply with their lease terms.
Please note, a property management company is not responsible for repairing or maintaining individual flats within a block or collecting rent.
Efficient Point of Contact
A property management company can act as the first point of contact for those living in managed buildings. They assist with resident issues that may arise, addressing these concerns professionally and promptly. This encourages positive and honest relationships, which is essential for resident safety and satisfaction.
Upholding high quality customer service is the key to a well-oiled machine; a management company is a steadfast way to ensure that those living in the building are seen, heard and therefore, happy! For a property developer, this can aid in positively impacting your reputation. It also encourages long-term occupancy in a Build to Rent property.
Depending on the requirements of your project, property managers can also provide a complete concierge team that deliver services such as keyholding and parcel management. This helps to keep the daily life of residents as smooth as possible, whilst maintaining high levels of community engagement and customer service.
At POD, we know despite our best efforts, there will always be issues. When a customer contacts us (be that via email, telephone or social media), they are dealt with by a dedicated support representative who is equipped to handle their query efficiently. Our tracking systems and collaborative working ethos means there is no single point of failure and our response times are measured in hours, not days.
Proactive Maintenance and Repairs
Property management services cover all communal areas, overseeing everything from routine inspections and planned maintenance to emergency building repairs. At POD, we’re all about prevention and actively pre-plan maintenance to keep properties in good working order. This way, key facilities such as lifts and door access systems are checked and tested, preventing the need for repairs in the first place. We always keep track of what needs doing so you don’t have to.
We work with a network of trusted contractors and vendors to ensure the properties we manage remain safe and habitable for residents. This is not only essential for ongoing customer satisfaction, but also for compliance.
Furthermore, hiring a property management company is cost-effective. Their proactivity will minimise unexpected expenditures, whilst their familiarity with the building will ensure every job is completed correctly, quickly and to the best possible standard.
Safety Compliance
For those not so familiar, navigating the complex web of vast property laws and regulations can be a daunting concept. Property managers must stay up to date with the latest safety requirements, ensuring buildings and communal facilities comply with legislation. From risk assessments to PPMs and more, property managers handle all safety aspects of property management, minimising the risk of costly lawsuits and penalties.
At POD, impeccable health and safety standards lie at the core of our business. In fact, we live and breathe it. We prioritise the safety and security of our customers around the clock and ensure our managed buildings are always aligned with UK regulations. As a developer, you can rest assured that you are partnering with genuine and conscientious field experts.
As an example, one of our crucial steps is quarterly fire door inspections. We meticulously follow a step-by-step process, ensuring all fire doors comply with the Regulatory Reform (Fire Safety) Order 2005. Carrying out these regular checks is not just about meeting requirements but genuinely mitigating fire risks.
Financial Management and Reporting
Property managers provide smarter insights for landowners. At POD, we understand we are managing and using your money to upkeep the property. That's why we offer comprehensive bespoke financial reporting and analysis, tailored to your unique requirements. This gives you clear monetary overview at the touch of a button, allows you to make informed decisions and optimise returns.
Our systems enable us to report across a range of different areas and we can discuss and agree the exact reporting requirements needed for your project. We commit ourselves to giving you deeper insights into the successes, learnings, and challenges of your development.
Less Stress and Time-Effective
One of the most significant benefits of utilising professional property management services is the time and stress saved. By outsourcing property management tasks to a professional team, landowners can focus on other priorities without the overwhelming, and at times unpredictable, burden of property management.
POD’s Vision
Whether you're a developer, freeholder, resident management company or investor, partnering with a reputable property management company can contribute greatly to the success of your property investment. Minimise risks and maximise peace of mind knowing your property is in capable hands.
POD’s vision is to oversee well run, safe buildings where we exceed expectations. We’re forward-thinking, innovative and ensure you are always our number one priority - we're here to go above and beyond.
When you work alongside POD, you’ll experience property management with a difference. We strive to bring exceptional service, expert support, and genuine care into every aspect of your property management journey. For more information on our property management services, click here.
Get in Touch
If you are looking for a property management company to assist in the smooth running of your new property development, the POD team can help you today:
Fill out our enquiry form
Email us at support@podmanagement.co.uk
Call us on 0333 577 6656
We look forward to hearing from you!