This month, we’re turning the spotlight on valuations in property management. Our contributors explore the ongoing debate between desktop and onsite valuations, while also addressing the risks of underinsurance – and practical steps to help you avoid it.

In the News!

  • The Renters’ Rights Bill is currently moving through the House of Lords and is expected to bring wide-ranging changes to the way privately rented homes are managed. Among the most significant are new limits on how and when landlords can increase rent.
  • A strong team line up from Claibon Recruitment set out on a challenging, extraordinary and life-changing trek, all in the name of checking chests!
  • In an industry increasingly shaped by regulation, rising expectations and squeezed margins, the promise of AI and automation in block management is understandably appealing.

Featured Articles

Without accurate budgeting, it’s easy to overlook hidden costs, such as routine inspections, equipment replacements, or remedial works recommended off the back of assessments and surveys. Learn more in the article from Karntek Complete Compliance.

The team at 4Site Consulting look at understanding the building safety case and your legal duties.

Adiuvo has announced the launch of Eve, the UK’s first FREE AI-powered lease reader designed specifically for the leasehold sector and it is available for no cost, forever, to all Adiuvo clients. Learn more in their article.

Property management company FirstPort has restructured its operations and strategy, adopting a more regionally-focused approach. In this article, Jessica Farrell, FirstPort’s Director of Developer Account Management, explains how this shift has transformed the way the business collaborates with its clients.

For those working in Block Management, valuations are part of the routine. Whether it’s an insurance reinstatement cost assessment, a reserve fund forecast, or a market appraisal of communal space, these exercises are usually filed under “compliance” or “financial planning.” Jodie Fraser explains more in her article.

The team at BCH look at reducing underinsurance risks in flats and why accurate reinstatement cost assessments matter.

In their article, the team at Residentsline Insurance highlight the key differences between a remote, “desktop” assessment, and an in-person assessment, with the aim of arming Residents’ Management Company directors with an understanding of which is appropriate for them.

Building Reinstatement Cost Assessments (RCAs) are a critical safeguard against underinsurance—but despite efforts from RICS-regulated suppliers like Cardinus, and industry professionals including freeholders, managing agents, insurers, and brokers, underinsurance remains alarmingly widespread. Learn more from the team at Cardinus Risk Management.

Cameron Wilson, Senior Building Surveyor, Earl Kendrick explains what you need to know about property valuation.

The team at JB Leitch look at valuations in leasehold property management and the future under the Leasehold and Freehold Reform Act 2024.

The article from Block in a Box outlines when RMCs should commission a building survey or valuation, the risks of getting it wrong, and how to stay compliant and protected.

In their article, the team at Flat Living Insurance highlight best practice guidance from industry bodies such as RICS, and offer practical steps to help you stay compliant and confident in your insurance cover.

The team at Manage Your Block explore how construction cost inflation impacts your insurance cover, why many buildings are now underinsured, and what you can do to protect your leaseholders and stay compliant.

Underinsurance may not seem like an urgent concern – until something goes wrong. If your building suffers a major incident such as a fire, flood or structural failure, inadequate insurance cover can lead to significant shortfalls and legal redress. Learn more from the team at London Flats Insurance.

Read all of these articles and more, in the latest edition of Flat Living Magazine.