Building Blocks for Success

For Release:  Thursday April 2, 2009 

While parts of the property market have taken a hit in the current economic climate, one Bristol management company is going from strength to strength. According to Andrew Simmonds, managing director of BNS Management Services, those that provide good service at a fair price are thriving. As one of the fastest growing block management companies in the Bristol area he knows a thing or two about success – it’s down to managing costs.

“Despite the challenging trading conditions, buildings still need to be maintained. In this business, “managing costs” does not mean neglect. It means finding the best value in everything we do in order that we keep the costs down for the residents. If our prices go through the roof, we’ll lose our contracts – we’ve worked too hard to grow from 15 to 80 blocks in three years for that. As a result we scrutinise every business relationship we have and make prudent decisions.

“One decision we made that proved very worthwhile was with regard to insurance. Looking at our portfolio comprehensively, our insurance broker suggested creating a bespoke solution. Rather than insuring each block separately, he recommended Block Secure, a bespoke product that allows us to combine the benefits of separate policies without the additional paperwork. By doing so we receive better premiums and a far better service from the insurance provider – and we’ve made significant savings which we have been able to pass on to residents.

“Managing the paperwork for 80 blocks (1,400-1,500 units) can be a headache, but grouping them together makes it much more manageable. We’re not bogged down with paperwork yet we have peace of mind that we’re covered legally and that we’re operating as efficiently as possible. It’s a streamlined approach.”

Andrew has worked closely for more than three years with property specialists Lampier Insurance Brokers. As James Hall, a Lampier executive, explains: “Block Secure is a continually evolving product, depending on the needs of the client. Covering all the buildings under one umbrella greatly improves the premiums and terms we are able to negotiate with the insurers. It means we are able to offer a number of benefits, such as a dedicated claims handler as part of the standard cover, in addition to optional extras including engineering inspections, legal expenses and employers liability to meet the clients’ needs. It’s a comprehensive facility that enables property managers to get on with the business of managing, rather than dealing with all the red tape themselves. It makes good business sense.”