Managing Prime Properties and Estates from Abroad
By Qandor member Philippa Somerset, Director of Somerset Estates. In this article, she talks about what’s involved in maintaining a property abroad and why a property management company might be beneficial.
Maintaining a property from abroad can provide international owners with a myriad of logistical challenges, especially if not managed properly. Living far away from a second home or investment property inevitably means a more hands-off approach, which restricts the owner from regular visits or the ability to efficiently and immediately diagnose any maintenance issues, should they arise unexpectedly.
As a London-based property management firm with international clients living in destinations across the globe, we appreciate first-hand the challenges for owners living abroad, and we exist to solve these challenges and give our clients the peace of mind that their prime properties and estates, whether occupied or vacant, are in trusted, local hands.
So, how do we help our clients protect their properties from afar? Each property will have different requirements and will therefore require a tailored maintenance plan. A reputable property management company should always create a completely bespoke service for each property or estate and, above all, remove the stress and hassle of maintaining a home from abroad by providing a complete management service - from day to day tasks, maintenance requirements and emergency call outs to weekly operational inspections.
Regular maintenance protects against damage
We all know the value and utmost importance of regular servicing from cars and motorcycles to private jets and super yachts. This is completely necessary to keep them in good working condition, prevent problems arising and ensure they are safe to operate. Homes, particularly luxury residences, should be cared for in the same way.
Whilst maintaining a property can seem an extra expense, a regular maintenance plan can prevent damage and reduce costs. As technology has evolved, there are naturally more things that can go wrong within a property. Building management systems and property technology should be tested to ensure all software updates have been successfully installed so audio, shading and blinds, cinema, and heating and air conditioning work seamlessly.
Issues such as leaks and faulty heating and cooling systems, can cause a huge amount of damage if left undetected, not to mention the unnecessary cost and inconvenience when they fail to perform. For example, the regular cleaning of fan coil filters will help keep air conditioning units running at their best for longer, rather like changing the oil regularly in a car. Planned maintenance can save expensive repairs and replacement.
Vacant homes need management
Frequent maintenance ensures that properties are kept in good working order so they aren’t affected by seasonal changes (or unexpected pandemics), especially if the property is not the main residency. It is standard practice for vacant properties to run heating and cooling systems on a reduced but steady mode - often called ‘vacancy mode’ - which keeps the property running efficiently throughout the year. This is recommended, as the effects of making drastic temperature changes to heating and cooling systems can create problems which may not always be easy to resolve. Similarly, some properties may have had heating systems turned off altogether. In both instances, the systems will require maintenance before they are completely reinstated. This also applies to any seasonal upkeep, such as maintenance of outdoor kitchen appliances and swimming pool chlorination leading to the summer months.
Flushing taps and water outlets to prevent water bacteria developing is essential if kitchens and bathrooms are not used on a regular basis. It is essential household staff and cleaners do this on a weekly basis to avoid any bacteria build-up within pipes, which is harmful if ingested and a costly headache to eradicate.
Safeguarding and Security
A critical role we perform for our clients is to safeguard properties, ensuring their homes are safe, secure and not vulnerable to threats. Having in place a security management package, which includes regular security checks, can reduce insurance premiums significantly. Similar to preventive maintenance, we frequently review security measures and perform regular operational checks and planned servicing.
Almost all sophisticated security technology enables cameras within the property to be monitored by both the homeowner and dedicated property manager via an app from anywhere in the world and having an appointed property manager and representative on the ground allows for an immediate and trusted response to any security threat or false alarms. Additionally, we ensure all insurances are in place with updated policies for cars, contents, building, life, fine art, jewellery and more, and we always complete a full background check on insurance statuses on behalf of our clients.
Social Media
We’ve seen this countless times in recent years, and we always advise our clients not to share too much on social media. It can be so innocent to post frustrations of travel restrictions to the world, but open profiles and a luxury property portfolio can be a recipe for disaster without robust security measures in place.
Recently, we came across an interesting (and alarming) statistic – the most subscribed magazine in UK Prisons is Hello! Magazine - most probably due to its publicity of high-end homes and celebrity content.
Home ‘log book’
Just like a car and other vehicles will have a full-service history, so should a home. A meticulous estate manager should build a comprehensive file for the properties they manage, and should include building and design drawings, system documentation and warranties and appliance information. Aside from being important in effectively managing a property, it also provides valuable provenance if a client wishes to sell or let their property in the future.
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