Small Blocks are overlooked

In the block property management sector, the focus has often been on more extensive residential properties, with small blocks of flats often being overlooked. Small blocks of flats, however, have unique needs that require specialised attention and expertise. So, what are the options and risks of not injecting specialist block property management expertise, particularly for small blocks of flats? Is relying solely on software alone to manage them enough?

Software to run small blocks of flats is not dissimilar to that required by larger blocks.

Whilst small blocks of flats may not have the same scale as more significant properties, they share many commonalities in property management. Both small and large blocks, for instance, require efficient maintenance, transparent financial management, compliance with regulations and effective communication with residents. As well as this, blocks of all sizes have to uphold high standards of living, ensure the safety and security of residents and maintain the value of the property over time.

Small blocks face similar operational challenges to larger blocks. This includes the handling of repair and maintenance issues, managing service charge collections, resolving disputes among residents and ensuring compliance with legal and regulatory requirements. It is essential, therefore, to recognise that the management of small blocks of flats is a complex, multifaceted task that demands a specialised approach.

Is there software suitable for managing small blocks of flats?

In today's digital age, there is an abundnce of property management software. The vast majority of it has an entry point that is prohibitive to small blocks of flats, and nearly all of it necessitates appointing someone to do the ledger accounting work and the banking, debt chasing, creating and posting service charge demands and similar.

Most sofware is not tailored for small block operations. Whilst this might be okay for someone trained in ledger accounting, if they want to take on the inconvenience of banking and managing the money, such software is unlikely to streamline everything required. Unless backed by a regulated managing agent, software alone is unlikely to get your demands issued, or your Section 20B notice served. Therefore, any real solution for small blocks of flats will need to involve more than just implementing software. A blend of expertise, dedicated processes and robust systems that are typically found in larger managing agent firms is required.

Expertise Combined with Processes and Systems

Unlike more prominent managing agents, the Client or directors of the freehold management company, RTM company or residents management company who have to manage small blocks of flats will often lack the necessary expertise, processes and systems to efficiently handle the diverse needs of the property and its residents.

So what would a hybrid software and managing agent solution look like to manage small blocks of flats?

A specialist property management firm, equipped with the right expertise and resources, can bridge this gap and provide small-block owners and residents with the level of service and support they deserve. Expertise in small block management requires a deep understanding of the legal complexities all blocks of flats, large and small, will encounter. A hybrid solution of part specialist property manager, part client self-managing and the correct software brings invaluable knowledge and insight to the table.

Hybrid block management software solutions for small blocks of flats: what each party brings to the table

What the managing agent brings:

A block-managing agent will bring dedicated processes and systems that are essential for ensuring that the day-to-day operations of a small block run smoothly. This includes everything from financial management of the cash, to holding it in a trust bank account and dealing with sales when properties sell.

Keeping the service charges affordable is usually the number one consideration for small blocks of flats and a software-enabled block management solution. This leaves the Client to set the budget and organise the most likely infrequent maintenance, which makes sense.

Service Charge Sorted  

Service Charge Sorted uses its bespoke software to administer the service charge for small blocks at a low fixed cost. Why not see how we can help you? Please visit servicechargesorted.co.uk for more information or complete the form below.