Building and Estate Management teams have been reinvigorating property developments across the country into expertly managed, smoothly run and more profitable endeavours. But how do Building and Estate Management teams transform developments, and what exactly do they do to make them so successful and worthwhile? Centrick’s team of expert property managers handle a variety of tasks and responsibilities that make them invaluable assets to our clients, and we’ll be running you through the seven key things that Building and Estate Management teams do that make the most impact! But first…
What is BEM?
Building and Estate Management pertains to the upkeep of property – in this case, residential property – and its tenants to ensure optimal safety, satisfaction and therefore profit. At Centrick, our Building and Estate Management team is an entire, dedicated department of in-office staff and property managers for each of our developments, ensuring that each property we manage has the resources it needs to function optimally.
Point 1 – They Keep Your Residents Satisfied
Management services are key in ensuring that your residents feel heard and satisfied: after all, with rental costs soaring, it’s important for residents to feel as if they are getting value for money from their service charge or rental costs. From our experience, residents at most developments are very receptive to our Building and Estate Management services as they feel reassured that a set of professionals are on-hand to assist them in making their experience at their property as good as it can be.
Point 2 – They Form A First Port Of Call For Resident Queries
An effective Building and Estate Management team are able to help you deal with daily problems quickly and fix the root of any issues rather than just the cause. This will ensure optimal tenant satisfaction that can result in great reviews, longer tenancies and fewer void periods.
At Centrick, we take our role very seriously, which is why we offer 24/7 access to the MyCentrick portal: this allows residents, leaseholders and landlords to submit feedback and maintenance issues in just a few clicks, from anywhere, at any time. What’s more, our emergency support team is available out of hours, giving your residents the peace of mind they deserve in order to truly enjoy their living experience at your development.
Point 3 – They Carry Out Regular Site Inspections
Site inspections are important for ensuring optimal safety and make it easier for building managers to evaluate aspects of the development to improve upon first-hand. At Centrick, our MyCentrick portal is where we publish any feedback on the outcome of our site inspections directly back to the leaseholders and residents so that they are kept informed about the actions that will be taken as a result of the inspection, and can ask any questions about how it could impact them.
Point 4 – They Arrange And Attend Residents
Residents meetings are vital in ensuring that residents, leaseholders and landlords feel heard, and are able to actively contribute to the improvement of their development. However, many developments do not host regular resident meetings, which can lead to frustration and poor communication between residents, developers and leaseholders. This is why Building and Estate Management companies like Centrick simplify these processes by arranging resident meetings, and providing guidance on how to make the most of them: from setting agendas, taking minutes and sitting in on the meetings to ensure that the important questions are being asked and answered, a Building and Estate Management Team is vital for ensuring that your meetings run smoothly.
Point 5 – They Prepare And Manage Budgets To Maximise Your Profits
Building and Estate Managers have the tools to help you understand what’s earning you money, or inhibiting your profit, so that you can make the very most out of your investment. This covers everything from understanding the use of your service charges, ensuring that service charges have been paid and setting budgets that are attainable. The experience that an Estate Manager brings to the table will help you set long and short-term goals that optimise the fantastic living experience at your development.
Point 6 – They Ensure Optimal Compliance
Perhaps the most important sign you should look for when assigning a Building and Estate Management company to your development is their credentials – look out for ARMA accreditation, registration with the Property Ombudsman and membership to bodies such as the Institute of Residential Property Management. We’re delighted to say we have all three accreditations, and proudly follow RICS guidelines, so our clients never have to worry about our legitimacy and experience!
Centrick is proud to offer all of our clients the expert guidance of our Health and Safety Compliance Manager, who can provide the most up-to-date information that will keep your property compliant and keep your residents safe.
Point 7 – They Oversee Property Management Teams
A good Building and Estate Management team should also be able to supervise on-site staff to ensure that all residents, staff, and people near the property are kept safe during any maintenance or construction works. If your development already hires team members such as concierges, cleaners and maintenance staff, a good property manager should be able to work alongside these team members and ensure that they are doing their best work and prioritising tasks effectively in line with your BEM strategy.
Looking to hire an award-winning BEM team?
Look no further than Centrick!
Our team of dedicated professionals work alongside developers, residents and leaseholders to ensure that properties across the country experience the best in secure, peaceful and safe living. Whether you look after a residential, commercial or mixed-use development, get in touch with us below to find out more about how world-class management can transform your property:
