Your property is likely to be your biggest investment. With rental properties in high demand during times of economic crisis, investing in property seems like a good idea. But who does it fall to to manage your responsibilities, not only as a landlord but also as a flat owner?
Renting out a leasehold flat is usually very different to renting out a freehold house. A lettings agent will take of care of the rental of your property, source suitable tenants, collect the rent and manage any repairs but, where flats are concerned, a specialist managing
agent is required to manage the development as a whole on behalf of the flat owners.
A lettings agent will, in theory, manage what is within your four walls, taking care of maintenance and repairs, checking meter readings and collecting your rent, but what happens if something goes wrong outside of the four walls?
It is important not to confuse lettings or estate agents with managing agents; managing agents look after the communal parts of developments, on behalf of freeholders or residents’ controlled companies, and are governed by the terms of the lease and leasehold law. Mandatory health and safety inspections must be carried out, insurance must be placed, financial information need to be produced annually and there are strict regulations as to how to demand, collect and hold service charges.
Owning a flat can be an onerous business and it is vital that the managing agent appointed to manage your development is suitably qualified and has the experience required to take care of it effectively. With many estate agents and letting agents branching out into
leasehold property management, it is worth doing your research and making sure that both your property and your money are being
looked after by professionals.
The HML group of companies has over 40 years of property management experience throughout London and the south of England.
Through our nine offices we manage in excess of 33,500 units and this ensures that, in most cases, one of our offices is no more than 45
minutes away from the developments in our portfolio. Our property managers have local knowledge and experience of the areas in
which their properties are located. They also have a good working relationship with local contractors and suppliers – enabling them
to provide all our clients with the local and personal service which we are known for and pride ourselves on.
Within the group we have optional ancillary services readily available to all our clients. These include the services of in-house surveyors, company secretarial support, health and safety experts and dedicated insurance brokers. The size of the portfolio managed by the HML Group allows us to secure competitive insurance premiums on behalf of all clients and provide them with a complete management service.
We understand that your property is an asset and want to help you protect your investment. All our property management companies are authorised and regulated by the Financial Services Authority and all are members of the regulatory body for the property management in the UK.
For more information please visit us online at www.hmlplc.com or to request a brochure please call on 020 8439 8529.