Ever wondered if you have the transferable skills to manage blocks? Watch our 90 second video below to find out.
Many Sales and Letting Agents have chosen to expand their service offering by adding block and estate management, to essentially become a one-stop property shop in their local market. We believe the key to this is having a trusted, credible and capable partner, managing the client finances, compliance and essential services. In addition to adding another recurring revenue stream to your business, this model also allows you the opportunity to cross sell your other existing services to a wider customer base.
Our service provision is facilitated behind the scenes, so that sales and letting agents can continue to employ your brand (not ours!), which remains at the forefront across all client-facing communications.
Find a list of frequently asked questions
Can I become a Partner without any block management experience?
Yes! We provide you with an initial comprehensive training programme which is then supplemented by ongoing learning and development through our learning portal.
Full training will be provided by B-hive Partners, plus you will receive support from your BDM (Business Development Manager) and PRM (Property Relationship Manager).
How long before we can earn an income from block management?
From the date of receiving an instruction to manage a block the usual lead in time is roughly 3 months.
How important are our own accreditations?
Because we are joint managing agents it is not compulsory for Partners to have their own separate accreditations. However, we do actively support and encourage those Partners who wish to obtain accreditations to do so.
Do we have to use all of the B-Hive Property Solutions services?
Our model derives the greatest benefits for all parties if all services are embraced, however we recognise the client has the final say on these decisions.
Will I need a dedicated Property Manager?
This will depend on the size and complexity of your portfolio. For smaller portfolios where all client finance is handled by B-hive it is not necessary to need a Property Manager at the outset.
Will I be required to attend meetings?
Yes, client relationship is the Partner’s responsibility for all blocks managed under your brand.
What are the typical management fees?
There is no definitive answer to this as management fees vary widely dependent on factors such as location. With our assistance we will help you carry out a competitor analysis which will enable you to set your management fees.
How are the clients’ monies held?
All client monies are held in accordance with the RICS code and placed in ‘Trust’ accounts.
How long is the agreement/contract with B-hive?
Our Partner licence agreement lasts for 5 years and includes reasonable termination clauses for both parties.
What are the advantages of partnering with B-hive rather than going alone?
We can enable you to safely and compliantly run your own block management business. Without our support, you will need to sort your own software, handle all client monies in line with RICS Service Charge rules, plus source all your own professionals for legislative requirements – there’s plenty more too!
Do I need software?
We provide you with software and a client portal, branded with your brand and paid for on a pay as go/per unit basis. The software is mobile friendly and makes site visits very time efficient.
How do I manage compliance?
As joint managing agents we are “in it together”. We provide all the specialist knowledge, departments, and suppliers to operate compliantly.
What happens if legislation changes?
We will develop solutions to any future legislative changes and train you accordingly.
What sort of training is available?
We provide full training from start to finish and have online training tools available for you to help yourself to. The training is continuous and we keep you abreast of any legislative or market changes relevant to you.
How would I market my business?
You use your brand, not ours, you are just “powered by B-hive”
Can I introduce my company to sell let and re-mortgage properties?
Yes! One of the huge benefits of adding block management to your service offering is the opportunity to cross sell all of your products and build a relationship with a much wider audience/client base.
What different skills do I need to manage blocks?
If you are doing sales and lettings now, then you already have all of the people skills! You just need some knowledge about different legislation and processes relating to block management, so much of which is similar to Lettings.
How can I open doors for new business?
All sales or lettings valuation you go on, if you ask the right questions, you will gather the information to start opening doors. Similarly, as a local operator you will already have the details to hand to start building your “Block” database to market too. You probably already know some Directors!
Is it really recession proof income?
This is not a “transactional” business like sales, it is more similar to lettings but is even more recession proof. Most of what a Block Manager does has to keep being done regardless of the wider economy.
WHY CHOOSE B-HIVE AS YOUR BLOCK AND ESTATE MANAGEMENT PARTNER?
Download our service brochurehere, for more information about how B-hive Block Management Partners work in partnership with Sales and Letting Agents and to find out how you can reap the benefits of expanding your database, form connections with a wider local audience and having the ability to cross sell your services in your locality.
The B-hive model offers agents the security of knowing that their accounting and compliance matters are taken care of by a trusted, credible and capable partner, leaving you to perform block management profitably and compliantly and deliver a first-class customer experience, whilst trading under your brand and not ours.
HEAR WHAT SOME OF OUR CUSTOMERS HAVE TO SAY…
“It is my pleasure to provide my view on the training and ongoing support from the B-hive team. I initially approached the training with some trepidation, particularly as it was to be delivered online. However I have just completed module 2 and have found this to be all encompassing but presented in a very clear way which made absorbing the detail easier. There was a lot to take on board but it was delivered very succinctly! I have already been reassured by experiencing the quality of the follow up contact and assistance that the “ongoing” aspect of training and support is both there and is required! The variety of topics covered is one aspect I enjoyed and found enlightening. The way the sessions are run is also commendable; they are interactive with a number of presenters in each session which keeps it fresh and questions are always welcome. The planning and forethought shines through. Mark who oversees it does a tremendous job. I cannot wait for the next part of the journey to becoming a fully-fledged exponent of Block Management.”
Deryck Highet – Director – Northwood (Wirral) Ltd
I just wanted to say thank you to you and the team for the support you have given as I learn about Block Management. The training and support has been invaluable and the team have often been patient with me and there has always been someone on hand to answer questions. At every level the people I have dealt with have all been knowledgeable and professional but have always taken time to explain details in a straightforward manner. I wouldn’t class myself as a block management expert but am now confident that by partnering with B-hive I can offer a professional block management service.
Mark Beckett – Martin & Co Stoke on Trent & Newcastle Under Lyme
“We already provide our landlords and tenants with a great range of services: Guaranteed rent, Mortgage Advice, Conveyancing, Insurance services, Property Maintenance, Moving home assistance. Having regularly received complaints from our landlords and tenants about the poor service from their block management, we are excited to round off the entire service with support from B-Hive. Now we can truly provide a one stop shop for our landlords and tenants housing needs.”
Stuart Williams – Northwood Dulwich
RAISE YOUR PROFILE – GROW YOUR DATABASE – SELL AND LET MORE
Would you like to discuss our proposition? Get in touch with the B-hive team for more details and we will also send you our service brochure. Alternatively, you may prefer to speak in confidence with our independent management consultants – Add Melon Ltd (Contact; David Brown, Director)