How you can benefit from our expert property management services

By: Phil Ainley

January 30, 2025

What do property management companies do?

Property managing agents, also known as property management companies, help freeholders, Resident Management Companies (RMCs) or Right to Manage Companies (RTMs) to manage the properties that they own or are responsible for in a way that is safe for residents, compliant with government legislation, and within a set agreed maintenance budget.

When a development is first sold, individual purchasers buy the homes it contains, either on a leasehold or freehold basis and those homeowners become responsible for insuring and maintaining their own property. However, many developments contain communal facilities or areas that are not sold to any individual purchaser. The insurance and maintenance of these areas either remains the responsibility of the original developer or is transferred to a new freeholder or Resident Owned Management Company. In some cases, at a future date, communal areas and facilities can become the responsibility of a Right to Manage Company.

Premier Estates Expert property management services

Insuring and maintaining homes

Homeowners are individually responsible for meeting the cost of insuring and maintaining the home that they own, however the cost of insuring and maintaining the communal facilities and areas of a development must be met collectively by all the homeowners at that development.

Most freeholders, Resident Management Companies and Right to Manage Companies choose to appoint a professional managing agent to discharge their obligations towards looking after the communal areas of a development and ensure funds are collected from all homeowners in an equitable way to meet the cost of discharging those obligations.

maintaining homes, roofing repairs

Property management company responsibilities and tasks

Property management companies can be responsible for a range of tasks, depending on the contractual agreement between the freeholder, Resident Management Company or Right to Manage Company and the managing agent, including (depending on the facilities at the development):

Administrative tasks

  • Correspond with residents, contractors, third parties, utilities, local authority.
  • Produce and issue regular newsletters to keep property owners updated on news relating to their development.
  • Manage all telephone enquiries from residents, contractors and third parties.
  • Arrange Buildings Insurance, Public Liability Insurance and Statutory Engineering Inspection. Insurance where applicable.
  • Administer insurance claims.
  • Calculate service charges and arrange collection of same.
  • Chase service charge debtors.
  • Abate breaches of the lease/TP1, nuisance.
  • Instruct solicitors in relation to serious breach.
  • Keep financial books and records of transactions through the service charge fund.
  • Reconcile the monthly bank statements.
  • Transfer funds between current and high interest accounts, as necessary.
  • Pay suppliers on time, including gardeners, cleaners, window cleaners, maintenance contractors, and utilities.
  • Administer employment of site-based staff including contract of employment, sickness, holidays, payroll, PAYE.
  • Attend ad hoc meetings during working hours.
  • Advise on industry best practise and current and anticipated legislation.
  • Advise on health and safety issues and best practise.
  • Arrange Health and Safety Risk Assessments.

Maintenance tasks

  • Estates Manager conducts regular site visits, takes photos, logs and issues that need highlighting for maintenance.
  • Arrange, monitor, and supervise annual maintenance contracts and health checks for safety and security equipment and items of plant, such as passenger lifts, vehicle gates, and water pumping equipment.
  • Organise, monitor, and supervise regular contractors as applicable, such as gardeners, cleaners, and window cleaners.
  • Monitor and supervise site-based staff.
  • Arrange, monitor, and supervise major cyclical maintenance, e.g. replacement windows, redecoration, replacement carpets, and major roof works.
  • Arrange, monitor, and supervise ad hoc proactive maintenance and reactive maintenance.
  • Organise emergency cover 24 hours a day, 7 days a week, 52 weeks a year.

It is important to note that the Premier Estates management fee is inclusive of time, travel, postage, stationary and other expenses.

Property managing agent responsibilities and tasks reporting and site visits

What are the benefits of a property management company?

Most homeowners lead busy lives and do not have the time, or inclination, to devote to the management and maintenance of the communal areas of the development in which their home is situated.

A professional managing agent will work with the homeowners to ensure the development is managed in accordance with the wishes of the majority. The managing agent will do all of the ‘leg-work’ to appoint and oversee maintenance teams and contractors; conduct regular site visits and assessments; and manage essential insurance policies, such as Buildings Insurance and Public Liability Insurance.

The managing agent will also ensure all homeowners pay their fair share of the money that is required to manage the development. They will liaise with any homeowners who are in breach of their lease or transfer, for example causing unacceptable levels of noise, parking in the wrong place, and abandoning refuse. These are tasks which are often awkward for homeowners to deal with on a neighbour-to-neighbour basis.

Property management is covered by a raft of legislation and regulations covering all aspects of the management of a development, including health and safety, building safety and custodianship of funds. Most homeowners will not be well versed in such legislation, whereas a professional managing agent will ensure the development is managed in a safe and legally compliant manner.

Key benefits of a property management company

How can you benefit from our Premier management services?

Hiring a property manager saves property owners time and stress by overseeing daily operations, maintenance requests, and homeowner relations. Property managers can enhance financial performance by competitive tendering of services and passing on the economies of bulk purchasing of services across the portfolio of developments they manage.

Improving relationships

Professional property management can improve homeowner relations through initiative-driven engagement, regular site inspections, and creating a community. As a result, it enhances the environment in which residents live and maximises future property re-sale values.

  1. At Premier Estates, we manage the finance, so you don’t have to – Efficient handling of service charge budgets and payment collection. Funds are held securely in a trust account with an A-rated bank.
  2. Your property will benefit from our network of trusted, expert, maintenance contractors – Monitoring and hiring of trusted third-party contractors for site maintenance and repairs. We hold contractors to account to ensure communal areas are maintained, issues are addressed, and residents are completely happy.
  3. Our experts will assess your property and recommend the best plan for you to be able to maintain your development to the highest possible standards – Our regular site visits ensure our outstanding property management standards are maintained and that sites are impeccable.

Adding value

The value to developers and homeowners of the expertise of our teams cannot be understated. It can mean the difference between a development with happy residents who enjoy the community in which they live and an estate containing disgruntled residents.

  1. We ensure you are covered, so you can enjoy peace of mind in case something goes wrong – Comprehensive management of buildings and other essential insurances.
  2. We are visible and accessible – Our active participation in meetings allows residents to discuss issues directly with the estate managers.
  3. We constantly seek value for money for our clients – Our proactive management, and regular contract reviews and energy price reviews to ensure value for money in all services and utilities.
  4. We work hard to keep your residents safe –Our staff have elevated levels of technical expertise and as a company we are ISO:450001 accredited and greatly attentive to procedures. Our internal procedures are more demanding than statutory controls, as a result we have been awarded RoSPA Gold

What are the benefits to homeowners of high-quality property management?

The last thing tenants and residents of a managed estate need is a managing agent who is not visible and who does not resolve issues quickly. This can lead to resentment over the management fee, it can lead to tenants moving out and an increased volume of vacancies. In the worst-case scenario, poor maintenance of a managed estate can lead to ill health among the residents.

  • Problems are solved quickly and without fuss – If something goes wrong, then your estates’ managing agent will act to fix it quickly and with as little disruption as possible.
  • Consistent and clear communication – Creating a link with residents and property owners is a vital part of a high-quality property managing agent’s work. Regular and consistent communication helps to build relationships and maintain trust. While regular customer surveys help a managing agent to know what the customer’s sentiments are, which can help resolve potential issues before they arise. Newsletters to property owners and bulletins displayed in foyers also help to inform people about what work is being undertaken and why, and of the timescales for completion of any proposed maintenance work.

Taking pride in what we do

Premier Estates prides itself on its regular communication and relationship building with its customers because we genuinely care about our clients, the residents, and the properties that we look after.

  • Improved quality of life – Homeowners can enjoy the life they feel comfortable with in a well-managed property. It can be a lifestyle without the well-publicised issues such as black mould, crime, and graffiti. Life on a managed estate can be elevated further if your property managing agent fosters a community and helps to host and promote on-site events for the residents.
  • Increased value of your apartment or home – If you are a resident homeowner who lives on a managed estate, then high quality management of the estate can help to increase the value of your property investment. If the estate is well kept and the grounds are manicured, then the whole estate can appear incredibly attractive when it comes to selling.
Attending residents and tenants forums

What is the difference between a property managing agent and an estate agent?

It is common for people to mistake property management companies and estate agents, but there are subtle differences to be aware of:

  • Property management companies are focused on managing your property and are dedicated to maintaining a development, while estate agents offer tend to offer property management as a secondary service.
  • Property management companies are specialised and offer higher quality services and a strong focus on delivering expert advice in relation to the management of a property.
  • Property Managers, Estates Managers, and Estates Co-ordinators, ensure that the homes they oversee are properly maintained, while estate agents assist home buyers or sellers during the selling process.
  • Property Managers, Estates Managers, and Estates Co-ordinators, typically perform their duties either on-site or off-site, while estate agents will tend to work from a localised office or from their home.

 

Premier Estates provide award-wining property management services across the UK. If you would like to speak to one of our team about managing your property portfolio, please call 0345 491 8899.

You can see what we do at a glance in our handy infographic.

The difference between a property managing agent and an estate agent