Whilst a large part of property management services is looking after the management of the property itself, there are other things that need to be considered. Part of the work of those who work within property management services is looking after the tenants themselves.
There needs to be the recognition that these are more than just numbers within a block of properties. They are people, who need to be treated as such.
This means that another part of the service of a block managing agent is looking at how best to take care of the residents too. Particularly during the difficult times that we find ourselves in at the moment.
One major issue that is likely to crop up for residents is the fact that they are in some financial difficulty. That they are struggling to not only pay their basic bills such as rent, but also the wider things that they need to pay out for, such as service charges.
They then find themselves in service charge arrears. Of course this is frustrating for the property management services but is even more of a problem for the residents themselves. Things can feel pretty desperate and knowing that you are in arrears can lead to feelings of stress and anxiety too.
The good news is that there are things that those in arrears can do to help; let us explore some of them.
Contact your property management company
The first step when it comes to paying back any arrears that are owed on a service charge account is simpler than you may think. You should make the effort to speak to either your landlord or your management company. By letting them know that you have an issue they can take a note of this which means that they are not going to be chasing you up and putting extra stress on you at a time when you may be struggling.
They can also help to give you advice on what you can do and how you can make the repayments that you need in order to put your account right.
Set up a repayment plan
Once you speak to your property management company, you can work with them to set up a repayment plan. This will not only help you to pay up the arrears that you owe, but will also help to plan for future payments that you need to make too. The amount that you repay should not only be enough to cover what you owe, but first and foremost, should be something that you can afford to pay out on a weekly or monthly basis too.
Speak to a debt management company
Long term, it is a good idea to look at your debt and see if there is a way that you can manage it. Things are not always going to be hard, especially if you take steps to making sure that you fix the problems that you have right now.
Speaking to a debt management company, such as Stepchange, could put your finances on the straight and narrow and help you to recover from any issues that you currently have.
Lime Property Management aims to deliver a service that provides value to its clients and tenants alike. If you are in need of block management for your properties or advice regarding service charges, then why not get in contact with Lime today on 0208 125 4071.