What Are the Typical Responsibilities of a Block Management Company?

  If you own a flat in a purpose-built development or a converted building, you have probably heard the term "block management" without ever being told exactly what it covers. Most leaseholders only notice the block manager when something goes wrong a lift breaks down, the bins overflow, or the service charge demand lands and looks higher than last year. In reality, a block management company is responsible for keeping the entire communal side of a building running: the parts nobody owns individually but everybody pays for. Here is what that work actually involves. 1. Service Charge Budgeting and Collection This is the financial engine of the whole arrangement. The managing agent prepares an annual service charge budget covering everything the building needs cleaning, gardening, insurance, repairs, lift maintenance, fire safety checks, and a contribution to the reserve fund. Once the budget is agreed, the agent: Issues demands to each leaseholder in line with the apportionmen...