Flat-Living.co.uk
Interview
Rapid response is key to success Partner Dennis Brooke, gives us an insight into the Qualitas Residential approach to block management. with buildings, even if I’m no longer designing new ones. My architecture practice was very strong on construction cost control and this readily translates to budgeting and expenditure control for blocks of flats. As an intellectual challenge, interpreting leases could be equated to wrestling with a complex building contract. I could also say that I get to meet and deal with the nicest and most interesting people - which is largely true - but there is a small minority that are, let’s say, just interesting! (OW HAS THE RECESSION IMPACTED THE BUSINESS DURING THE PAST MONTHS AND HOW HAVE YOU STEERED THE BUSINESS THROUGH THIS PERIOD
(OW LONG HAVE YOU WORKED IN PROPERTY MANAGEMENT IN GENERAL AND AT 1UALITAS 2ESIDENTIAL IN PARTICULAR I founded Qualitas Residential in 1996 as a second career after architecture. Initially it was a lettings business but I never felt truly at home in that world. As an architect I had been used to more engaged client relationships than I was finding in lettings, and block management provides that, but over a longer term. (OW HAS THE SECTOR CHANGED IN THIS TIME When I was first offered a block to manage I knew nothing about the subject. I just decided that I would give such a willing service that by the time someone asked a difficult question I would be up to speed! I haven’t looked back, but I don’t think you could do that now. Legislation has become so prescriptive that it is difficult to be right all the time - even when you know what you should be doing. It is vital to keep abreast of new developments: ignorance would be professional suicide. 7HAT IS IT ABOUT PROPERTY MANAGEMENT THAT INTERESTS YOU There is clearly an affinity between property management and my previous career as an architect. I still get to find out what is wrong
The recession has had little effect on us. We have continued to take on new business, and our portfolio has continued to grow. We did lose solicitors’ enquiry fees for a while when the housing market died, but they are back to normal now. 7HAT ARE YOUR FUTURE PLANS IN TERMS OF MERGERS ACQUISITIONS AND OR TAKING ON NEW INSTRUCTIONS My business partner and I merged our fledgling businesses and it has been a great success. Our growth has been steady and consistent, fed mainly by word of mouth referral. I think we are likely to continue to grow our business on the basis of enquiries received and develop our resources in parallel. 7HAT UPCOMING LEGISLATION WILL EITHER ADVERSELY OR POSITIVELY AFFECT YOUR BUSINESS IN THE FUTURE We are all awaiting the implementation of Section 152 of the Commonhold and Leasehold Reform Act 2002. This will introduce prescribed statements of account for service charges and will, I think, be worth the effort. Beyond that there is the possible regulation of our profession, which I support in principle. My concern with new legislation is always that, although it is conceived (hopefully) out of an obvious need, it is often developed to the point that attracts ridicule. Sledgehammer and nut spring to mind!
7HAT DO YOU BELIEVE IS THE KEY TO SUCCESSFUL PROPERTY MANAGEMENT Response, response and response - I can’t see any argument against it. Virtually all our business comes from replacing other managers and, whatever the full range of problems may be, the first complaint is always, “they didn’t call us back or reply to letters and emails”. Rapid response is the front line in building and preserving your reputation. Behind that you have to have adequate systems to manage accounting, maintenance, health and safety, insurance etc, but it is your initial response to a query that reassures people that everything is under control. 7HAT IS THE BEST THING ABOUT PROPERTY MANAGEMENT !ND THE WORST I see block management as a very stable business. As an architect, and part of the construction sector that fluctuates wildly with the economic climate, I experienced the opposite. I appreciate the steady cash flow as opposed to having to put in thousands of pounds of work up front and hoping the client will then pay. I also appreciate not having to constantly find new work to replace what has been completed. Every new instruction builds the portfolio. On the downside, I miss the creative element of architecture. In property management, creativity is helpful, but in a completely different context! (OW DO YOU UNWIND OUT OF WORK I am into my third year of rebuilding a Marcos Mantula sports car. It wasn’t supposed to take that long but I am not the first to fall into that trap. Unlike our management of blocks, the budget for this project is completely out of control and will never be revealed!
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