“Review of Knight Frank Property Management (KFPM): In summary, an ......”
1 Star Review
Nov 30,2017
By:
'Shai'
Nov 30,2017
Branch: London, Unit 49, 55 Baker Street
Services: Lettings (as a Landlord)
Would you recommend?: No
Postcode: E1W
Branch: London, Unit 49, 55 Baker Street
Lettings (as a Landlord)
Postcode: E1W
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Review of Knight Frank Property Management (KFPM): In summary, an expensive and very poor management service.
The property managers themselves are reasonably competent but the overall system itself seems to be severely flawed - everything is outsourced to externals (inventories, check-ins, check-outs, periodic visits etc.) meaning the property managers are not familiar with the properties they manage since they never actually visit them. This can lead to issues at check-out re dilapidations. A seeming lack of communication between the lettings agents and KFPM can also lead to issues with re-letting and void periods.
In my experience KFPM does not attempt to save their landlords money and will often use expensive contractors for works on the basis of one quotation only. My impression is further that the property managers will do everything they can to avoid difficult conversations with their tenants and would rather negotiate against their landlords.
All in all a very poor service which comes at a high cost (in terms of high fees, expensive works, significant dilapidations which will never be fully recovered from departing tenants and void periods). Actually from my perspective there is very little "service" element to KFPM's property management service at all, and there is zero value-add.
If one views one's property as an important asset / investment to be nurtured and financially optimised whilst providing high quality accommodation for tenants, I personally believe that this is the wrong agency for you.
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