BBB property experts Bold & Reeves wrote a blog for us about the best way to maintain your principal’s property and why they really are a PAs best friend…..
Often our first point of contact with a new client is through their PA.
Typically, there’s a period of reconnaissance as they assess any existential threat to having Bold & Reeves take care of ‘the property question’ on behalf of their boss… who often has a large and complex property portfolio to manage.
And usually, the PA plays a key role in that process.
But is that the right way for high-powered PAs to spend their time?
Our research suggests that working with Bold & Reeves not only alleviates PAs of some of the biggest drains on their time, energy and their boss’s money, but also delivers a range of systemic benefits that add value throughout their role and organization.
Because as many PAs find, if you don’t specialize in doing it every day (like we do at Bold & Reeves), managing prime residential property can be, well… a bit of a nightmare.
We’ve worked hard to refine our prime residential offering, as we seek to demonstrate support for, and compatibility with, professional family offices, PA’s and their associated staff.
Far from reducing the relevance of the PA role, Bold & Reeves has the following objectives in mind as we work with a client’s team:
- Help PAs and their teams shine in front of their boss by saving money
- Free up time so PAs can focus on adding value in other key areas
- Reduce the need for PAs to hire unnecessary members of staff
- Increase privacy and confidentiality, while outsourcing inefficient tasks
- Consolidate all admin, maintenance and management relating to property
- Reduce PAs exposure to a complex array of avaricious suppliers
- Provide highly specialized expertise for a highly specialized area
It’s commonplace for PAs to tell us stories about being ripped off by charlatans, or simply overwhelmed by the sheer number of suppliers there are to manage, and the subsequent paperwork and financial outgoings that come with even the simplest of tasks.
Bold & Reeves regularly support our client’s PA’s with the resolution of issues in the following areas:
- Boiler breakdowns
- Water damage
- Plant-related issues
- Support with tech/digital devices
- Welcoming or preparing a property when you can’t
- Attending the property when you can’t
- Keeping a schedule of costs on your behalf
- Providing full at-a-glance visibility of all activity in the property
Many of the interventions we make are in owner-absent properties. Often a PA’s boss will own four or five homes. Typically these are well maintained and functioning to a high standard, however as soon as you have multiple locations to manage, you enter difficult territory – for a home unoccupied, is a home at risk of damage. And often that means eye-watering vacuums of time and money.
Says Bill Shipton, Bold & Reeves Founder & CEO:
‘47% of all unscheduled home ownership costs in our sector take place in owner-absent properties, where little or no maintenance takes place for unusually long periods of time – hence a delay in awareness of the issues, and with diagnostics and solutions. PA’s can take advantage of our services and be wholly reassured about an entire portfolio of properties and the potential issues therein, are being monitored around the clock while they, and their principle, are away.’
This kind of constant, hands on focus speaks directly to many of the issues that PAs have shared with us over the years, and is the type of insurance policy that helps many PAs sleep better at night.
Mr Shipton goes on:
‘Not only would a PA know about the issues as soon as they happen – they will have every confidence that we will attend the property straight away, and restore working order at minimal cost. We have heard of PA’s having to get on a plane to sort out plumbing issues, and many instances of PA’s being taken to the cleaners by dishonest and inconsiderate service providers. By using Bold & Reeves these issues are immediately circumnavigated, and all the duties of care surrounding prime residential properties, solved.’
No one needs persuading of the benefits of servicing their car, yacht or plane… and like wise, prevention is always better than cure in matters related to health and wellbeing. But there hasn’t been an equivalent service for the home – until now.
Why not treat prime residential property in the same way, especially in the light of the value of such assets, the unique requirements involved in maintaining them… not to mention the emotional attachment many owners invest in them?
If any of this resonates please contact Georgina Peech on 020 7408 7590, for an initial conversation.
And check out the testimonials below – as further evidence that Bold & Reeves are raising the bar:
‘My principle sense of value from Bold & Reeves lies in the fact that I am less exposed to exploitation from my supplier network. Many tradespeople who walk into a seven-story home in central London double the price of any work immediately. I no longer have to mitigate that risk as all our contractors are a part of the Bold & Reeves curated partner network, and our residential asset manager handles all suppliers on our behalf.‘
‘Having Bold & Reeves onside reduces my need for permanent staff, or at least for a permanent house manager. My residential asset manager is usually somewhere local to me and can arrive in minutes if there is an emergency. Many of the duties traditionally performed by house managers have been absorbed by the Bold & Reeves offering.’
‘Having the use of the Bold & Reeves app simplifies and expedites my ability to report an issue in my house and get it dealt with – often without even having to have a conversation. My husband and I are incredibly busy and we have four children, which means we are hard to get hold of. Interfacing through the app, and seeing that translate into fast and effective action, the results of which are then relayed back to us on the same platform, which alleviates pressure and supports our daily flow.’
‘Simplicity is a key feature of the Bold & Reeves service. I may pay a premium for it – but you get what you pay for. I have one point of contact, no complex supplier network to manage, and I pay one invoice that is always fair and easy to understand.’
‘A big advantage to the Bold & Reeves service is anonymity, which relates directly to security and peace of mind. My residential asset manager represents me and my home, and Bold & Reeves take care of the admin and any paperwork. This means I get to stay off the radar, which supports my privacy and my family life, and saves me time in the process.’