Why Property Developers Must Consider New Build Consultancy
New build consultancy is a paramount service for any property developer looking to construct, maintain and sell new build properties. Expert consultants play a fundamental part in impacting decisions that lead to lowering operational costs across the board and, therefore, service charges for residents.
This week, the POD team take a closer look at the benefits of new build property consultancy and why it’s an investment every developer should consider.
A Key Preventative
Appointing a new build consultant in the very early stages of development is always in your best interest as a property developer. Many developers make the mistake of not seeking professional advice from a consultant during the new build process. In avoiding this fundamental step, landowners sacrifice long term cost-efficiency, streamlined management processes and, consequently, risk falling short when it comes to overall resident satisfaction.
By onboarding a reputable consultant early-on in the process, small errors that could have a detrimental impact further down the line can be avoided, or at least highlighted to allow for realistic budgeting. As the saying goes, prevention is always better than a cure – if you can prevent something adverse from happening in the first place, wouldn’t you take the opportunity?
At POD, our focus lies in understanding and fulfilling our clients' requirements, whilst tackling challenging scenarios with technical expertise. We are skilled in negotiating both commercially focused and residential needs, delivering best practice advice to mitigate potential costs and maximise customer satisfaction further down the line.
Expert Advice
New build consultancy offers developers and landowners the opportunity to receive first-hand knowledge from experienced professionals. Using our years of operational property management expertise, we provide precise, pragmatic, and results-oriented guidance. POD endeavour to look at the whole picture, not just the building process. We give our clients an extensive, dual overview of how to make their building easier to manage, alongside making it more cost-effective for both the client and end customer.
You’ll gain access to guaranteed support from a team that understands your property, your journey and your goals, facilitating exceptional living experiences whilst delivering a fantastic standard of customer service.
Realistic Operational Budgets
Let’s say a developer advertises a service charge cost of £4 per square foot, but because of the way they’ve built the property, materials used, plant and machinery installed and where certain things in the building are positioned, maintenance costs are higher than anticipated. Even if the increase ended up being £1 more per square foot, that’s still a 25% increase to the resident.
This leads us to a real example of how our new build consultancy service would have helped the developer avoid bad publicity. At a well-known site in North London, the client advertised one service charge price for buyers, but once residents moved in and the site went live, the residents learned the true cost of upkeep would in fact be a lot more. People bought these properties on the premise that the price would be one rate, and this resulted in a lot of bad press and negatively affected the reputation of the developer, who was accused of misrepresentation. Had POD been brought in to advise them, they could have advised on ways to deliver the scheme at their target rate or set running costs at a more realistic level.
Cost Control
There are two sides to new build consultancy. At POD, we are usually brought in to help a client with ‘design for management’ – where we look at how the building can be more effectively run, in terms of both management and costs or, to assist with service charge strategy and budget setting.
For example, we’ve supported a client wanting to have an unstaffed gym. Due to security concerns, they wanted on-site staff to control access for residents. With 70 apartments, the costs would have pushed service charges beyond what is usual for the location. We worked with them to implement a technology solution that eliminated the need for staffing and deliver strict security control. By doing so, a lot of costs were saved and service charges significantly reduced for future residents.
Similarly, at our Fisherton Street development we identified an issue with the location of its parcel room. Due to the placement of this room, when a resident wanted to collect a parcel, the concierge would have to leave the desk area, meaning it was unattended for a period of time. This meant that whilst they were gone people couldn’t be let into the property, and customers with other queries were not being seen to, causing frustration. Having two people at the desk would alleviate the issue, but this of course would incur additional staffing cost. We advised the developer to move the parcel room in order to reduce the time the area was left unattended. Unfortunately, this was not possible, but we found a solution by allowing collection of parcels between certain hours where staffing levels allowed.
Although the location of a parcel room is a seemingly small issue, it’s problems like these that can drastically alter the customer service experience. Ultimately, as a developer, new build consultancy ensures that you deliver what you promise to customers and maintain a credible reputation.
A Trusted Partnership
Reputable new build consultancy support can lead to long-term, trusted partnerships. In this industry, knowledge of fundamental processes and first-hand experience, combined with an understanding of your brand, is what truly sets a consultant apart.
At POD, we take great pride in our comprehensive industry knowledge and understand the responsibility that comes with carrying out bespoke planning and forecasting solutions for our clients. We will work alongside you to make sure you maintain your reputation and achieve your long-term end goals. After all, we view our services as an extension of your business venture - our successes are mutual.
Peace of Mind
New build consultancy provides invaluable peace of mind; you can rest assured your development is in capable and trustworthy hands, allowing customers to see your true potential as a developer.
Now, you may have heard of HBF. This is the Home Builders Federation, popularly labelled ‘the voice of the industry.’ This is where residents can review their home builder through buyer surveys. Naturally, developers strive for those sought after 4 and 5-star reviews. Utilising new build consultancy could help to encourage positive feedback on this recognised national platform, enhancing your brand reputation in turn.
Tailored Solutions
Every project will have different requirements. Investing in new build consultancy support allows you to work alongside experts who can fulfil your unique needs, taking away any stress and uncertainty.
With a diverse portfolio of residential and mixed-use properties, at POD we combine deep insights with operational design to produce efficient and desirable liveability for residents. Whether you require our expertise for a new build development project, or need us to review, optimise, and audit an existing scheme, our dedicated and friendly team are on hand to assist you. For more information on our new build consultancy service, click here.
Get in Touch
An efficiently planned property is essential for smooth operations. From pre-planning to mobilisation, we meticulously consider all aspects of property management to establish a strong foundation for success.
Considering new build consultancy in 2024? POD management are here to help you on your property development journey. For more information, simply:
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!