Adding a block management portfolio
Key risks, skills and operational procedures
This section looks at what you need to think about when adding a block management portfolio to your business, including due diligence when preparing a business plan, the governing framework and operational procedures that need to be followed by your firm. It focuses on the procedural elements of managing a residential communal property or estate:
- key risks: what to look for when taking over the management of a block of flats; and
- key skills and procedures: the framework, skills and tasks needed to manage communal buildings.
This section aims to help managers and firms avoid dispute by properly identifying the differing needs of clients and communal buildings, and ensuring they have appropriate skills in place before accepting an appointment to manage a residential communal property or estate.