Dispelling Some Misconceptions About Residential Property Management

Like all industries, Property Management has its fair share of myths and misconceptions.

Often, the majority of a property manager's work takes place behind the scenes, with hours dedicated to the smooth and effective running of a property.

If a property manager is doing an excellent job, much of their hard work will go unnoticed, with residents enjoying life in their homes stress-free and landlords content their properties are being well looked after.

Here, Bill Messer, Property Manager at Block Management UK Ltd, looks to dispel some of the common misconceptions surrounding the industry.

Property managers should be local so that they can be on-site all the time

When completing a tender on a new property, we are often asked about on-site visits.

It's a common assumption from Residential Management Companies (RMCs) that property managers need to be on-site frequently to handle issues and to make sure everything is running efficiently.

However, much of a property manager's work is now conducted off-site, digitally or on the phone.

Restrictions placed on businesses during the Covid-19 pandemic demonstrated the bulk of a property manager's work can be carried out conducted off-site.

The fact is, frequent visits to a site are a sign of something going wrong with the property – if it is being run effectively off-site, a property manager is not needed on-site.

If property managers are not on-site, they are not working

This links to the previous misconception, the concern being that clients may not know what a property manager is doing when not on-site in person.

However, just because a property manager is not at the site in person, it doesn't mean they are not hard at work.

From shopping for the most competitive insurance rates and managing contractors to preparing budgets, lease reviews and arranging health and safety inspections – this can all be done with a laptop and a phone.

In fact, in the case of an emergency, like a leaky pipe, residents are far happier to see a plumber knock on their door than a property manager.

Property management companies receive remuneration from contractors

Another common misconception is that disreputable contractors are allowed to work on properties, charging leaseholders and landlords over the odds for the work.

This is simply untrue – choosing an overpriced contractor with poor work standards is the best way to get a property manager fired.

Block Management UK Ltd has a stringent vetting process for any contractors working at the properties we manage – if they do not provide excellent work at an affordable price, they do not get on our recommended suppliers list.

Property managers are there for the long run, we want to keep our clients for as long as possible and won't risk jeopardising our ongoing relationship by employing contractors who are not up to the job or overpriced.

If you would like to know more about our estate management services, see here.