You are reading a single comment by @swedeee and its replies. Click here to read the full conversation.
  • Has he got building insurance set up? That’s the first thing I’d want to check with him, as it’s a significant expense that he can’t cover using his family’s labour. It would be worth asking what his longer term intentions are for the management arrangements. I speak from experience when I say that managing a property is a time sink, if you want to do it properly.

  • I have a breakdown of the expenses and ~60% of it is buildings insurance. I believe he has set it up

    I did see window cleaners turn up around 3 months ago too... as well as some guys to come service the sump pumps (we are in a maisonette with bedrooms on lower ground floor)

  • I would give him a break, it sounds like he has his hands full. He’s not a professional managing agent by the sounds of it, so he won’t have proper accounting systems set up. Longer term, you’ll need to think about how you want to go on when you take over. We set up a management company, of which I am a Director, and appointed a professional managing agent. Not all agents will take on small blocks but I can recommend some that do.

About

Avatar for swedeee @swedeee started