The term ‘Property Management’ is a broad generic term for the management of anything in the built environment. The term is usually then broken down into two main categories – Residential and Commercial/Asset Management.
Residential Property/Asset Management
Residential Property Management is defined as being the management of dwellings (a house, a flat or other place of residence). This can be further split into the following sub categories:
Managing blocks of flats or apartments is the core of our business. There is significant legislation governing the management of blocks of flats and MLM Property Management routinely take on these responsibilities on behalf of our broad client base. Our portfolio of block management includes a wide range of developments including but not limited to:
- Old mansion blocks
- New Build schemes
- Mixed use schemes (both residential and commercial within the same scheme)
- Mixed tenure schemes (both private and social housing schemes)
MLM Property Management manages estates of leasehold or freehold houses which requires a different approach to management.
The Private Rented Sector (PRS) also referred to as Build to Rent (BTR). A relatively new grouping for our industry, but one growing faster than any other sector. In this new and exciting model, one Freeholder owns all the apartments in a block which are then rented out to create an income-producing investment. The UK PRS market is steadily growing and MLM Property Management manages several PRS schemes in this sector.
Whilst MLM Property Management typically manages blocks of flats, we are often asked by clients to also manage the flats themselves. This would routinely include liaising with estate agents to let the flat and the provision of the AST agreement (Assured Shorthold Agreement), we collect and manage the rent and arrange any repairs as necessary.
MLM work with some of the UK’s leading Property Landlords including Grainger PLC. and Simarc Property Management to name 2. We are routinely asked to manage large portfolios belonging to our clients which are typically a mixture of blocks of flats and houses ranging in size, scope, complexity and location throughout England.
Commercial / Asset Property Management can be defined as managing any commercial premises including offices, retail, warehouses, shopping centres, industrial spaces etc. MLM Property Management manages a variety of Commercial buildings, estates and industrial complexes on behalf of our clients, providing them with rent collection, facilities management and asset management skills and expertise.
For more information about our property management services in London and Home Counties, please feel free to get in touch with our team.