Property Management - Apartment Block and Blocks of Flats . Many leaseholders can and do manage competently and successfully, thus maintaining the value of their investment and saving management fees. However, give some thought to the work to be done and the obligations. A Management Company has certain duties to the leaseholders, duties which are not diminished because management is in the hands of residents. Self-management of leasehold property will not necessarily give you greater freedom to manage as you wish.
Management is an ongoing and long term commitment.
Managers will be concerned with the fabric of the building, accounting, financial forecasting, enforcement of the lease, debt collection and the duties of Company Secretary. The many benefits of professional management should be weighed against the fees you will have to bear. Apart from the skills and methodology, having a professional agent will ensure that any action is independent of private interests while the unpleasantness of debt collection and disputes is de-personalised. Management is a full time job requiring the skills and infrastructure to support this very specialist area of residential property management. A professional Agent acts for you, not instead of you.