17 December 2024
Choosing the right property management company can make all the difference between a development that thrives and one that struggles. With so much at stake — from keeping residents happy to staying compliant with legal requirements — making an informed choice can feel overwhelming.
This guide breaks down what to look for in a professional property management partner to ensure your property is expertly looked after. If you are looking for a property management company to care for a small block of flats or a larger portfolio, these insights will help you make the best decision for your needs.
When choosing a property manager, experience matters
Experience speaks volumes about a company’s ability to manage a development effectively. Look for a proven track record, particularly with properties similar to yours, approach the company and ask about the range of day-to-day residential property management tasks they offer like general maintenance and fire and building safety checks, and any additional services that could be included.
A well-established company with the expertise behind it will offer the confidence that your development will be in capable hands, ensuring consistent real estate management.
Understanding the scope of property management services
A good property management company should offer services that go beyond the basics, providing tailored solutions that meet your needs.
Look for support that include service charge collection, property inspections, financial reporting, and handling compliance tasks like fire safety checks. A company that offers tailored solutions ensures your development gets the specific care it needs.
The role of transparent communication in property management
Clear and open communication is the cornerstone of effective property management. Regular updates on maintenance services, resident concerns, and financial performance will ensure that you remain informed and confident in your investment.
Look for a company that provides accessible reporting systems and prompt responses to queries. This level of transparency fosters trust and prevents misunderstandings, helping customer stay on top of the work being done to manage each development.
At FirstPort, our newly updated customer portal ensures we deliver clear and open communication to customers. The MyHome portal allows you to stay on top of your bills, raise a case or repair and receive important updates about your development.
Meeting certification and industry standards
A professional property management company should adhere to industry certifications and regulatory standards. These certifications demonstrate a commitment to best practices and compliance with legal requirements, such as essential health and safety regulations and recommendations.
Choosing a certified provider ensures your property is managed professionally and responsibly, ultimately reducing risk and protecting your investment.
At FirstPort, we adhere to industry certifications and regulatory standards, ensuring your property is managed responsibly and in compliance with all legal requirements.
Managing finances: Fee structures, budgeting, and service charge collection
Financial management is a key part of property management. A professional property management company will have clear fee structures, so you know exactly what to expect.
From setting realistic budgets to ensuring timely service charge collection, strong financial oversight is essential to the management of a development – whether it’s a freehold estate or multi-block development.
Local expertise: The advantage of market knowledge
A property management company with deep knowledge of the local market can make all the difference. Local expertise ensures they understand the specific challenges and opportunities in your area, including making informed decisions about the general maintenance requirements for each development.
At FirstPort, we recognise the importance of providing a local service and we make sure each development we manage has a local property management team in place. We’ve also launched a dedicated London residential real estate team which offers a range of services to meet the specific needs of Right to Manage Companies (RTM) and Resident Management Companies (RMC) in London. The team consists of leading industry professionals who have an eye for detail, are passionate about what they do, and go the extra mile to deliver for our clients and customers.
Finding the right property management company is key to success
The right property management company can transform how your property is maintained. A trusted partner brings together industry expertise, transparent communication, and local knowledge to handle the complexities of day-to-day operations with ease.
Choosing wisely means finding a partner who prioritises your goals and delivers an exceptional service tailored to each development.
Read our related article for more benefits of finding a reliable property management company.
Let us be your first port of call
FirstPort’s expertise and tailored approach makes property management simple and stress-free. With a focus on clear communication, reliable service, and local market knowledge, we make sure your property is cared for as if it were our own.
If you’re a developer, Resident Director or leaseholder looking for a partner that prioritises your property’s success, FirstPort is ready to help. Contact us today and let’s discuss your property management needs.
