Why hire a property management agency?

Relax, we’ve got it covered

Whether you have one property, several properties, or an entire residential or office block in your portfolio, engaging the services of a professional property management agency brings a whole host of benefits.

For most property owners and Landlords, property is a business yielding ongoing returns in the form of rental payments, as well as the long term investment in bricks and mortar – generally considered to be one of the safest most solid and reliable of ways to grow your money in the UK.

The Challenges

With this ownership though comes the potential for multiple headaches thanks to a plethora of little potholes and pitfalls that are just waiting to trip you up. If you’re unfamiliar with the territory it can be surprisingly challenging, and even for those with experience it can be time consuming and stressful.

Here’s just a few of the issues that our clients face:

• Rising costs including mortgage and interest rates
• The letter of the law, legal implications, and landlord versus tenant rights
• Maintenance and managing the upkeep of your building/estate
• Accounting and tax requirements
• Tenant communication
• Collection of service charges
• Utility management
• Dispute resolution
• Contracts and leasehold matters
• Insurance policies
• Health & Safety compliance

… and plenty more besides.

MIH takes care of the problems, reduces the stress, and saves you time and money

Here are some situations we have recently successfully dealt with:

Cladding replacement
In the wake of the Grenfell Tower incident, we reviewed specific buildings, assessing whether cladding needed to be replaced and took the appropriate measures in order to remedy these such as applying to the Building Safety Fund where buildings were 18m or over.
We have also kept a watching brief on the new legislation ready to spring into action when new funding arrangements are announced as has been the case for the fund which opened for 11m recently.

Tenant eviction
An unreliable tenant had begun to miss payments and was refusing to comply despite calls and letters and attempts to mediate and negotiate. The next step was to request that they vacate as the terms of the tenancy had been breached. When this was also ignored, we instigated eviction proceedings and successfully brought the tenancy to a close in a calm and professional manner.

UK Fire Safety Law Changes
Recent changes to the Fire Safety laws in the last 12 months resulted in the need for checks and auditing to ensure compliance. Building safety and tenant welfare is paramount and we implemented processes and procedures to ensure legal standards were met.We are taking measures to ensure that we know who is in our buildings at all times in compliance with the Building Safety and Fire Safety Acts respectively.

Block management: renovation project
Our team handled renovation work on a block residence, which involved everything from liaising with the landlord to specifying the scope of works, engaging contractors, to project management, all the way through to completion. A seamless end-to-end service that took the weight off the shoulders of the owner, who was busy travelling abroad on a regular basis and not in a position to oversee works.

How do we do this?

Quite simply, we are experts in the field, we know the territory. Collectively we have years of experience, and our team spans different skillsets giving us depth of knowledge in each of the key areas. From the simple ongoing repetitive tasks to the bigger demands, we are equipped to handle things effectively.

Accounting, legal and leaseholds, are prime examples, all of which can be very nuanced and where the official/legal boundaries are frequently moving. Changes in the law and taxation are an annual event and we’re on the case. We’re watching out where you may not be, and we’ll help to keep you on the straight and narrow so that there are no unexpected surprises.

MIH – Making Things Happen

We find that where our clients were once struggling along and overloaded with the minutiae of day-to-day issues, instead they can concentrate on the top line and profitability of their property business. It simply makes practical sense to delegate the headaches away to those aptly placed to deal with them.

Regardless of whether it’s residential or commercial the support of an experienced property manager can make a genuine world of difference to the day-to-day running of your property business.

TALK TO OUR TEAM!

call 020 3637 7968 or email info@mihproperty.co.uk for more information