Chartered surveyor Banks Long & Co’s property management team has hit new heights this year and is experiencing a surge in the amount of rental income collected for commercial clients.
The department’s workload rose during 2019 and the team ended the year on a high note, having been contracted to look after in excess of 40 new commercial sites during the six months ended December and is collecting more than £3 million a year in additional rent.
Associate Director Sarah Pettefar, who joined colleagues Emma Surphlis, Charlotte Elkington and Emily Funnell in the commercial management team last year, said it has been a very busy period during which the firm successfully quoted to look after a wide range of properties.
Now the success of the team – which is supported by six accountancy and admin colleagues – has encouraged Banks Long & Co to announce that it is recruiting three extra staff for its property management department.
And Managing Director Tim Bradford said that the team’s work has a strong impact on Banks Long & Co’s other services.
Sarah Pettefar said: “At the six months ended December, we were managing 17 new service charge budgets and collecting in excess of £3 million in additional rent annually. We are looking after clients with a wide range of properties, including those in Lincoln, Boston, Scunthorpe, Hull, Sheffield and even as far afield as Norfolk.
“Our current workload includes the management of retail parks, office blocks, industrial estates, residential blocks and single-let properties, so we are working across all sectors with a variety of different clients and tenants.”
Colleague Associate Director Emma Surphlis said: “The nature of property management means that every site is different. By working closely with our clients, we can provide an exceptionally high level of service which meets each one’s individual needs and ensures that properties under our management are well-maintained and comply with legislative requirements.
“Our level of responsibility varies according to each individual contract. In many cases it means much more than the collection of rent. We also deal with everything from maintenance works and major repair projects to health and safety compliance, the management of contractors, fire compliance and providing clients with lease and asset management advice. This ensure that their property portfolio is well-maintained and is also performing as an investment.
“We are delighted our department is enjoying ongoing success and we look forward to continued growth during the rest of this year.”
Managing Director Tim Bradford said: “One of our key strengths is the co-ordinated crossover between our divisions. The agency/investment consultancy team allows us to provide pro-active asset management advice.
“Our lease advisory team works in tandem with the management department to generate rental growth and our expanding building and cost-consultancy team offers support on matters such as dilapidations and the potential for refurbishment or development.”