What is Block and Estate Management?
Not sure what block and estate management is, or what’s involved, here’s our guide to what it is and how it works:
What is block and estate management?
The industry is known by various names such as leasehold management, property management, apartment management, block management or estate management.
Block and estate management is the process of managing the communal areas of residential properties. Typically, flats pay a service charge which is their contribution towards the upkeep of the communal areas, whereas houses typically pay a rent charge which is their contribution towards the upkeep of the communal areas such as access roads and streetlights etc.
It is not uncommon to have developments that are a mixture of leasehold flats and freehold houses. On occasions there may also be commercial properties within a block or estate that in addition contribute towards elements of a service or rent charge.
What is freehold?
If you own the freehold, it means you own the building and the land it stands on outright. This could be a person or entity that owns a block of flats or the owner of a house.
What is leasehold?
Leasehold means that you just have a lease from the freeholder, commonly referred to as the landlord for a set number of years. Leases often range anywhere from 90 years to as high as 999 years.
What is a leaseholder?
A leaseholder is a legal term for the tenant who has been issued a long lease (over 21 years) by the landlord in a leasehold structure.
What is included in block and estate management?
There is no generic list of services that can be applied to every building or estate however, the lease or transfer deed will detail the services that the landlord is responsible for.
Typical services will include:
· Placing of insurances (freehold houses are typically responsible for arranging their own
· Internal and/or external cleaning of communal areas
· Gardening of communal areas
· Ongoing day-to-day repairs and maintenance to communal areas
· Tree care
· Compliance with health and safety regulations
· Painting and decorating of internal communal areas and outside of buildings
The lease or transfer deed will also specify the “demised premises” which is what the leaseholder or homeowner is responsible for.
Who regulates block and estate management companies?
Currently, there is no governmental body that regulates the block and estate management industry, however there are self-regulatory bodies that provide safeguarding such as The Association of Residential Managing Agents or The Royal Institution of Chartered Surveyors
There are also several regulatory bodies that block and estate management companies must join, such as the Information Commissioner’s Office as well as a redress scheme for recourse over service complaints.
Do you need to be qualified to be involved in block and estate management?
Whilst there is no formal qualification required for working in block and estate management, there are a number of options available to Property Managers such as The Institute of Residential Property Management and an avenue of qualification through The Royal Institution of Chartered Surveyors.
Aspire Block and Estate Management – 01923 372169