If you live in a property managed by SDL Property Management, you might be wondering what we do for you. Here’s a quick guide and remember that we’re always here to help so please get in touch if you need further information.
SDL Property Management is a managing agent. Most of the properties we manage are either leasehold residential blocks (eg blocks of flats), or freehold estates (eg new build housing estates). What we do for blocks and estates is different, so we have two separate guides on what we do for you, depending on where you live.Here’s our guide to what we do for leasehold blocks:
First of all, it’s helpful to explain what leasehold actually means:
When buying a leasehold property, a leaseholder effectively rents from the freeholder for a number of years, decades or centuries. When the freeholder grants a lease, they become a “landlord”.
The leasehold ownership of a flat usually relates to everything within the four walls of the flat, including floorboards and plaster to walls and ceiling. A garden can be included unless it is a communal garden for the building.
The structure and common parts of the building and the land it stands on are usually owned by the freeholder. The freeholder is, normally, responsible for the maintenance and repair of the building. If so, the costs for doing so are recoverable through the service charges and billed to the leaseholders.
The freeholder or resident management company usually appoint a managing agent to manage their block.
So as your managing agent, what do we do?
Above all else, we are here to ensure that you live in a well-maintained and safe building. We work with you to budget and spend carefully to help ensure that you get value for money but also no surprise costs down the line.
- We are responsible for ensuring your building is maintained and compliant with health and safety regulations
- We are responsible for working with residents to set a service charge budget and collect individual contributions
- We liaise with residents on a huge range of subjects, but usually around managing repairs and maintenance
- We liaise with contractors to arrange maintenance and repairs
- We arrange insurance of the building and, in some cases, provision of central heating, lifts, porterage, estate staff, lighting and cleaning of common areas
Find out more about how the service charge works.