At Smith Greenfield, we have developed an unparalleled network to provide our clients with access to industry-leading expertise. Here, Joseph Gleeson and Teagan Howard, both Directors at Footman & Butler, offer valuable insights into the world of prime and super prime property management for private clients.
Albeit the pandemic, the London property market has seen an incredible number of transactions over the past year, with Knight Frank famously reporting £2.7bn worth of homes bought last year in London alone.
We have seen this first-hand, but as with any asset it needs to be nurtured and maintained, and a property is no different. Our clients put their trust in us to maintain their properties, so they can continue to accrue in value and be enjoyed when they are home.
Luxury property management pain points
Property management is not the highest on one’s agenda when finalising on a property purchase, however, it soon moves up the agenda, causing some of the biggest headaches our clients encounter. Footman & Butler alleviates those pressures, allowing our clients to enjoy their property how they envisaged without the added pressure of maintaining them.
Our portfolio of properties are some of the most desired in London, and with that comes huge responsibility to maintain them to the highest of standards. This is achieved through a vetted network of partners, who are the best in their industries. Essentially, they are an extension of the Footman & Butler team.
Through experience, there are a handful of non-negotiable services which a high-end property management company should provide:
- Twenty-four-hour service
This may sound obvious, and a given in most industries, but it is not always the case in ours. It’s vital the property can be visited in case of emergency, day or night. A client’s property should be managed as if it is our own.
- Tendering service contracts
The financial expenditure of a property should be within their remit also, not just to manage payments, but to ensure a client is being treated fairly by third parties. The tendering and negotiating of service contracts, whether that be for the swimming pool or whitegoods, need to be meticulously managed.
- Vetting and background checks
The safety and privacy of a client is the highest priority and ensuring that all persons entering their property are properly checked is paramount. Whether that be a regular contractor to their own in-house staff, background checks cannot be assumed and must be accounted for.
- Property appraisal
The best way to comprehensively manage a high-end property is to conduct a property appraisal within a short period of signing. All areas need to be evaluated, from the garden maintenance schedule to the boiler and heating system. Ignoring this step will inevitably leave to issues that could have been identified and mitigated.
For further information about Footman and Butler, please visit: footmanbutler.com
Smith Greenfield is an independent insurance broker specialising in insurance for private clients with higher value homes and contents. To discuss specialist insurance for your home and lifestyle, please contact our Premier Client Adviser, Imran Moideen, via email imran.moideen@smithgreenfield.co.uk or telephone 020 8603 3730.