Property Management
The commercial property management team looks after real estate investments on behalf of landlords. We aim to maximize investor returns by focusing on three areas: sound management of the income stream; property maintenance; and ‘active management’, which includes lease restructurings, refurbishments and extensions, environmental initiatives and tenant retention.
Our clients include overseas investors, property companies, government agencies, and institutions. We manage most property sectors including offices, retail, warehousing, industrial, holiday cottages, and marine.
Guide to Property Surveys
Before you can buy your new home you need to arrange for a surveyor to carry out a survey of the property. A survey will tell you whether or not the property you hope to buy is a good investment without structural faults. There are several types of survey:
Valuation Report
Mortgage providers usually insist on a valuation report before they will agree to lend you the money. This is to confirm that the property value is sufficient security to cover the loan. If your home is still being built, the mortgage provider will carry out checks on the builder and development. They will usually release the mortgage in stages, handing over the final balance once the house is finished and can be finally valued.
Home Condition Report
This report focuses on the condition of the property including the roof, walls, windows, floors, and stairs. The condition of each element is reported through clear ‘traffic light’ ratings, identifying problems that require attention. In addition, a summary of risks to the property and occupiers is also given. However, it does not include a valuation or insurance statement.
Homebuyer's Report
This provides information about the basic fabric of a property. Only those parts of the property that are readily available will be covered. It will comment on defects or problems that may affect the value of the property.
Building Survey
This is a more thorough survey of the property’s construction and condition than a Homebuyer’s Report. It is therefore likely to be more costly. It will provide detailed information on how the property has been constructed, the materials used, the condition of the foundations, roof, walls etc. It is recommended for properties that are very old, rundown or expensive.
After deciding which type of survey is best for you, always write to your surveyor to confirm your choice with details of the property and area. New homes often come with a guarantee such as Build Mark that insure against major defects resulting from the builder’s failure to carry out the guarantor’s requirements.
If your new home does not come with a warranty or you would like the peace of mind that a structural survey brings, you could decide to commission a Homebuyer’s report. When buying a very expensive home, it may be worth your while to arrange for a full Building Survey.
The time and cost to complete your survey will depend upon which type of survey you have commissioned plus the size, condition, and location of your home. It is best to get two or three quotations from different surveyors in the area to assess the market rate. You may also wish to speak to your estate agent about typical prices in the area.