Block Management UK takes on a new Cardiff instruction and offers advice for small self-managers who feel overwhelmed

 

This Victorian residential conversion is our first in the city although not our first in Wales. We already manage property in nearby Pontypridd, and on the north coast, where we manage properties near Colwyn Bay.  

The Cardiff property had previously been self-managed by one of the residents. However, in time she felt that she no longer could devote her time and energy to the complexities of management. This scenario is a very common situation especially with a new flat owner who does not count on having to perform so many admin functions in her free time.  

Tasks such as renewing buildings and D&O insurance and company secretarial duties are too important to be ignored. And these tasks are the same whether the property has four flats or forty or more.  

We see many small properties struggle to manage themselves but also cannot afford to hire a managing agent. We do note that  those self-managers who are successful tend to apportion a set time to their management duties, have an effective filing system and schedule into their diary must-do tasks such as insurance renewals. In short, by being proactive and treating their management duties as a part-time job, they manage to stay ahead of the feelings of stress that may come.



(17 January 2022 )