The team from Barrett Corp Harrington tell us why the pandemic has led to a deeper appreciation of the industry’s Property Managers.
Our partnership with FlatLiving Magazine is a great opportunity to stay in touch with our customers. We can communicate the benefit of our products to the people who utilise our services to ensure they are operating in compliance with the buildings insurance policies they’re responsible for. It also allows us to keep up to date with changes in the industry and recently, has given us a renewed respect for the role of the Property Manager.
The Lockdown Effect
The first few weeks of lockdown saw the country largely ‘staying home’, and whilst for many the pace of work slowed down, Property Managers were all-hands-on deck. With essential maintenance works still going ahead and many taking the opportunity of down time to crack on with other works, the PMs role was as essential as ever.
With the increased time many leaseholders suddenly had to clarify queries, we’ve heard of a deluge of applications for lease changes to allow for pets or for consent to realise grand ideas of open plan living, with the Property Managers first port of call.
Keeping the Wheels of the Industry Turning
How Property Managers maintained the commitment of their roles whilst becoming home teachers, errand runners and professional grocery delivery slot watchers, we are not quite sure. But we wanted to take this opportunity to say well done and thank you. You kept the wheels moving, not just for us as an industry, but in the best interests of the leaseholders and freeholders you represent.
The Impact on Sums Insured
As per our article in the June edition, Covid19 has impacted sums insured by influencing how a property could be reinstated in the current climate, considering everything from delays in getting materials to site to labourers having to maintain social distance. These changes and many more will likely be across all contributors to a development’s management and, in turn, its service charge.
With leaseholders paying increased attention to their outgoings and challenging changes to service charges, it’s great to see the PMs still prioritising getting it right. It is as important as ever that the buildings sum insured these premiums are based on are accurate.
Nobody could have predicted or planned for how 2020 has played out so far, but one thing’s for certain; though the use of our homes has evolved, insuring buildings is as important as ever.
