Estate management jargon-buster Sometimes, speaking about estate and block management can feel like navigating a minefield of puzzling terms and phrases. To help you navigate the terminology, we thought we would do some jargon busting. Here is a rundown of some of the terms and expressions used in our profession and what they mean. Leaseholder –owns a property for a set period of time – typically for hundreds of years - but not the land it’s built on. The owner could be an individual, organisation or company. Freeholder –owns a property and the land it is built on outright. The owner could be an individual, organisation or company. Lease – an agreement, usually between a freeholder and leaseholder, giving possession to the leaseholder for an agreed fixed period of time. Tenant – someone in temporary possession of a property, rented from a leaseholder or freeholder. Letting agent – manages the letting of a property – collecting rent, organising inspections, check-in, check-out and deposit disputes. Estate management – manages the operation, maintenance and oversight of a number of properties in an estate, looking after the upkeep of shared and communal spaces. Block management – similar to estate management but involving a residential apartment block. This would include overseeing maintenance of lifts and upkeep and cleaning of internal and external shared and communal spaces. Property Management – a more general term referring to managing the operation, maintenance and oversight of rental properties, ensuring the properties adhere to all lettings legislation. Service Charge - This payment covers the maintenance and upkeep of a block or estate and its communal shared spaces. The service charge is paid by the leaseholder and collected by the block or estate management company. More information on our services please see here or speak to one of our expert property managers by calling 01787 275 325. (06 March 2023 )

Estate management jargon-buster

Sometimes, speaking about estate and block management can feel like navigating a minefield of puzzling terms and phrases.

To help you navigate the terminology, we thought we would do some jargon busting.

Here is a rundown of some of the terms and expressions used in our profession and what they mean.

Leaseholder –owns a property for a set period of time – typically for hundreds of years - but not the land it’s built on. The owner could be an individual, organisation or company.

Freeholder –owns a property and the land it is built on outright. The owner could be an individual, organisation or company.

Lease – an agreement, usually between a freeholder and leaseholder, giving possession to the leaseholder for an agreed fixed period of time.

Tenant – someone in temporary possession of a property, rented from a leaseholder or freeholder.

Letting agent – manages the letting of a property – collecting rent, organising inspections, check-in, check-out and deposit disputes.

Estate management – manages the operation, maintenance and oversight of a number of properties in an estate, looking after the upkeep of shared and communal spaces.

Block management – similar to estate management but involving a residential apartment block. This would include overseeing maintenance of lifts and upkeep and cleaning of internal and external shared and communal spaces.

Property Management – a more general term referring to managing the operation, maintenance and oversight of rental properties, ensuring the properties adhere to all lettings legislation.

Service Charge - This payment covers the maintenance and upkeep of a block or estate and its communal shared spaces. The service charge is paid by the leaseholder and collected by the block or estate management company.

More information on our services please see here or speak to one of our expert property managers by calling 01787 275 325.

(06 March 2023 )

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