As the world has changed significantly over the past year with the effects of the pandemic taking hold, it has never been more important for property managers and leaseholders alike to have certainty on the costs to properly and effectively maintain residential blocks.
The best way to avoid significant unforeseen spikes in costs over a long period by setting out a clear, long-term set of measures to keep it in prime condition.
Plan Ahead
A Planned Maintenance Programme (PMP) should cover everything from structural checks to re-decorating and gutter clearing. And although not dramatic, its effects can be hugely beneficial to all parties involve with a block.
Also, when there are a group of leaseholders collectively responsible for repairs, a comprehensive PMP, prepared by an independent third party can avoid disputes, which potentially require expensive and time-consuming resolutions.
The key to getting planned maintenance right is to develop a programme of maintenance work that is comprehensive, well-organised and appropriate.
A PMP is a vital tool to help managing agents or property owners set reliable levels of service charge expenditure or reserve funds for the cost of future repair and maintenance of a building.
Who Can Help?
To put an effective PMP in place for your block, you should commission a professional – preferably a Chartered Building Surveyor – to draw up a costed schedule of works for you that will identify any work that needs to be done urgently and pinpoint future maintenance issues.
The first step is for the surveyor to produce a detailed survey of your building so that any necessary work on the building can be prioritised and to ensure that any initial structural work is carried out at the same time to create economies of scale in relation to fixed costs like scaffolding and access.
What is Included?
Incorporate recommendations from Health and Safety and Fire Risk assessments, such as emergency lighting installation or a fire alarm upgrade.
Asbestos reports should also be included as any recommended works will need to be undertaken prior to the commencement of any works.
Poor maintenance can not only reduce the performance and value of the property but also affect the residents’ heath as well as threaten the safety of occupants.
What Will it Cost?
Once this work has been carried out, the surveyor should be able to put in place a plan to demonstrate the best way to maintain the building in that condition, avoiding any spikes in expenditure. Depending on the size of the property, the detailed plan and cost schedule should only cost between £500-£3000.
This is a small price to pay for the reassurance it provides and the issue-avoidance that results. Once this framework is in place, RMC directors will be able to monitor and update the PMP regularly and a review by a surveyor should only be necessary once every couple of years.
