Posted on November 08, 2017 by Kim Mead
On 1st November, four of the motive8 management team attended the ‘TC1 Introduction to Residential Property Management’ course at the ARMA head office in Wimbledon. As a company that works closely with various property management companies, we were keen to understand more about the role of a property manager and how we, as a contractor, could improve our service. Our Gym & Spa department speaks to various estate managers on an almost daily basis so for them in particular it was to be an extremely useful day.
The course covered the key elements of a lease, Statute and Common law along with an introduction to service charge accounting, specifically about section 20, and finished off with a quick look at health & safety. What was clearly apparent from all of us is the lack of understanding we had about what a property manager actually does and how challenging that role could be.
The course was very informative, well delivered and very useful to our work within the property industry. What was most beneficial was the information about the service charge accounting and how the section 20 applies; this is something we are keen to know more about as it can have an impact when we are proposing refurbishments of gyms etc. Learning about how the lease is structured and the roles of the landlord and property manager was also particularly interesting along with hearing about the additional charges that property managers can impose on the leaseholders for certain services.