Residential Property Management
Our Residential Property Management services specialise in large residential blocks and housing developments or portfolios in the South West.
Residential Property Management services for the South West
We have been working with property owners and residential Management Companies / RTM’s for over 30 years, dealing with tenants and landlords to provide a personal service based on professionalism and attention to detail.
A well-run residential block or portfolio will add value to the properties and enhances the reputation of the landlord or property owners, which impacts positively on the rental values. As your Property Managers, we take ownership of the day-to-day issues that arise in residential properties, looking after the interests of all the stakeholders including the tenants, landlords, owners and management companies. Vickery Holman provides a comprehensive property service with inhouse building surveyors, allowing us to enhance considerably our property management services. We work closely with our Building Surveying colleagues who advise on maintenance and repair issues and can help with preventative and planned maintenance programmes.
Our comprehensive range of residential property management services includes:
Rent and Ground Rent Collection
Vickery Holman can invoice and collect all rents due and then account to you on an agreed basis. Additional statements are issued if there are payments received in the interim, but our stringent credit control procedures ensure that rents are collected and paid to our clients in a timely manner.
Service Charge Administration
Vickery Holman can set up and administer service charge schemes, including full budgeting, in advance. At year end, a full reconciliation is provided and statements issued, along with any balancing charges. Contracts are tendered regularly to ensure we achieve value for money wherever possible.
Health and Safety Compliance
Vickery Holman will review all relevant areas such as asbestos, the Equality Act 2010, Gas Safety, periodic electrical testing, fire and water risk assessments and lift compliance. We will ensure that landlords comply with all relevant legislation where possible and as permitted under the terms of any lease.
Reactive Repairs and Maintenance
Vickery Holman routinely deal with all day-to-day maintenance items and repairs. However, larger projects requiring technical input can be referred to one of our in house building surveyors. Such projects are usually specified and overseen under a separate fee basis.
Landlord and Tenant Liaison
Vickery Holman take a proactive role in all landlord and tenant issues and are the first point of contact for any queries or requests for information a tenant may have. We will also notify you, in a timely manner, when rent reviews and lease renewals are due. Our in house lease consultancy team can deal with this for you under a separate agreement.
Planned Maintenance
If an asset management plan is not already in place, our building surveying department can prepare one. We recommend that plans are reviewed every two years and updated as necessary. Having regard to an asset management plan, we can advise you on setting up an appropriate reserve fund in order to collect funds towards future items of major expenditure.
Key Contacts
Residential Property Management FAQs
What is the managing agent’s responsibility?
As a rule of thumb, everything that is inside your front door is the owner’s responsibility while the rest is the managing agent’s responsibility. Vickery Holman will deal with everything that is related with the structure of the building and the communal areas including stairwells, lobbies, lifts, communal garages, bin stores, communal patios and gardens, fire alarms, emergency lights, main doors, gates, etc.
For more details, please refer to your lease.
What is a Section 20?
A Section 20 (S20) is a legal process of consultation to tell you that we intend to carry out work or provide a service whose cost is above the threshold of £250 or £100 per leaseholder respectively. We must serve a S20 on any leaseholder who will be affected by the work or receive the service. The S20 has three phases: the notice of intention, where we include information about what we plan to do, the statement of estimates, that states the quotations received, and the invoicing. It will give you the opportunity to take part in the consultation process, comment on what is being planned and suggest companies to be consulted. The S20 process is set out in law and is mandatory even if there are funds available for the works in a reserve account.
Section 20 – detailed and accessible information in this link:
Section 20 Consultation for Private Landlords, Resident Management Companies and their Agents – The Leasehold Advisory Service (lease-advice.org)
What is the benefit of an IRPM property manager?
RICS/IRPM property managers are qualified professionals with extensive knowledge and expertise in property management. They are trained to handle various aspects of managing residential properties, including, maintenance issues, tenant relations, and financial management.
Are there legal requirements within Property Management?
Staying up-to-date with the latest regulations and legal requirements governing residential property management in the UK is essential. Property Managers can ensure that your property is in compliance with all relevant laws and regulations, helping you avoid potential legal issues or liabilities.
What should I do about Maintenance and Repairs?
It can be a landlord’s responsibility to undertake repairs of properties, ensuring that it is well-maintained and in good condition. With in-house Building Surveyors, Property Managers can coordinate routine maintenance tasks, handle emergency repairs promptly, and ensure that the property complies with health and safety standards.
As a landlord, do I need to speak directly to tenants if I appoint a property manager?
Property managers act as liaison between you and your tenants, handling tenant inquiries, concerns, and requests promptly and professionally. They strive to maintain positive relationships with tenants, addressing any issues that may arise and ensuring tenant satisfaction.
What is an RTM (Right to Manage) Residential Property
The ‘Right to Manage’ (RTM) in the context of residential property refers to a legal right granted to leaseholders of a building to take over the management functions from the landlord or the managing agent without having to prove any fault on the part of the landlord. This right is established under the Commonhold and Leasehold Reform Act 2002 in England and Wales.
The RTM allows leaseholders to collectively take control of the management of their building, including responsibilities such as maintenance, repairs, insurance, and other aspects of property management. This is typically done by forming a Right to Manage company, comprised of the leaseholders, which then takes over the management functions.
It’s important to note that not all leaseholders are eligible for the Right to Manage, and there are specific criteria that must be met, such as:
- The building must be primarily residential.
- At least two-thirds of the flats in the building must be let to ‘qualifying tenants’.
- The leaseholders must own long leases (usually more than 21 years).
- The building must meet certain other criteria, such as not being part of a larger mixed-use development.
The Right to Manage provides leaseholders with more control over the management of their property and can potentially lead to better management standards and lower costs. However, it also comes with responsibilities and obligations that the RTM company and its members must fulfill.
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