What they say about themselves:
During seven years’ experience in this industry, we have found that residents’ foremost concern is that they feel they have no control over the management of the building into which they are expected to pay. 2 Rivers Property Management seeks to address this issue and to approach property management in a new way. Our target market is Right to Manage and Residents’ Management Companies because they produce higher levels of overall satisfaction with services. They are residents as well as Directors and are more likely to have their neighbour’s concerns at heart than any other type of landlord.
It has been common practice with many agents and companies to have various departments managing different areas and offer a one-stop shop for all leasehold needs. Depending on the individual situation, this isn’t always what all residents want. There is no choice in it, it is usually more expensive and it does not always provide value for money.
We have therefore taken a different approach and 2 Rivers Property Management offers what we call your leasehold service choice. If you think of your property’s service needs as property management, legal and accounting, we believe that you don’t have to buy all three services at one managing agent, but can choose. In 2014 the Competition and Markets Authority completed a study in the industry of residential property management services. The survey largely backed up our experience and framed the approach we take to this industry.
If you choose us as your managing agent, you will have a choice of one, two or all three of the services, managing agents offer. We do this by working with partners who specialise in one of those three areas and you choose which you want to work with. This not only gives you control but a higher quality of service because each partner specialises in their field. It is unbundled property management, but it can be bundled in any way you choose.
Also, as part of our contract we include a statement which lays out our purpose and responsibilities, plans and strategies if there are any, and key information on your property of any past work. This approach eliminates the misunderstandings, which occur when residents expect services and managing agents are not aware of these expectations.
We know what it is like to live in a leasehold property and it should be a constructive and positive experience.
Catherine Kersey AIRPM AICB, Accounts Manager
Profile: Catherine has a background in accountancy and seven year’s property management industry experience.
What we say about them:
Are you paying your management company for services that you don’t need? A one-stop shop for property management isn’t always the best solution – especially if the block you’re managing only has limited needs. Whilst lots of property management companies might promise to offer tailored services to keep costs down, 2 Rivers Property Management works closely with legal expert and property maintenance partners to offer bespoke services in a way that makes them stand out. Teaming up with Cardinus risk management and Gibbons Solicitors, they have broken down property management into three distinct areas: legal services, accountancy and property management. Clients can choose to source one, two or all three of these services from 2 Rivers, giving you more choice and control over what you are paying for.
A business concept created specifically to try to address the recognised, industry-wide problem of unhappy leaseholders who are angry about paying for services they simply don’t need, 2 Rivers call their approach to property management ‘Leasehold Choice’. By putting resident satisfaction at the heart of their business model, they are aiming at helping residents who have opted to take on the Right to Manage or formed a Residents Management Company, to navigate the legal and financial minefield of managing property effectively and at the best price. And while 2 Rivers primarily aims to help these resident groups to get the legal, financial and management services they need, they are also keen to branch out to support property developers on new developments who need help until, if ever, residents choose to take over management.
Does it work? As a new company, their approach might not have years of working evidence as backing, but common sense suggests the concept is a sound one. If it still sounds a bit risky, the business has accredited associates status with the Institute of Residential Property Management and Institute of Certified Bookkeepers for your peace of mind.
So is it right for you? 2 Rivers’ fresh approach to property management could be worth a try if you’re a Right to Manage or Residents’ Management Company in the London/Essex/Suffolk/Norfolk area and are looking to try something new when it comes to your property management company.