Allan's October Market Update

Published: 05/10/2021 By Allan Fuller

Block and Estate Management

This less well known side of our business continues to grow, in fact we have been taking over the running of more buildings each month. We have a brilliant team who have a vast amount of experience dealing with an incredibly wide range of property types, from Victorian buildings, to modern blocks.

 We are finding that buildings which are managed by the flat owners themselves are finding the stress of complying with the labyrinthine amount of legislation affecting flat buildings to be an increasingly onerous task. Keeping up to date with such things as fire regulations, health and safety, asbestos reports, legionnaires reports, is absolutely vital, and carries considerable responsibility for directors.

 A misconception is that employing a managing agent will increase service charge costs, in fact it can actually be cost effective, we shop around using our contacts and information to get the best deals, plan regular maintenance, always building reserve funds to avoid sudden exceptional demands for lager payments.

 Beware of agents who get a ‘kick back’ from contractors and suppliers that they employ. Our policy is we work for, and get paid by  the flat owners, so to get a percentage from contractors and suppliers is making the agent the servant of two masters in our opinion, a very questionable practice. The only commission we receive is a declared one from the insurance broker which does not increase the cost.

 If you are a director of a building and thinking of transferring responsibility for running it, or feeling that you are not getting the service you deserve from your current agent please get in touch. Either call on 020 8785 2515 or email, blocks@allanfuller.co.uk