What does owner occupier mean11/19/2023 ![]() ![]() Now let’s look at two possible combinations of these owners and occupiers. They live there, and it’s their home, either because they own it anyway or they are renting from a landlord short term The Various Combinations Then there’s an occupier, who actually uses the property. They are ultimately responsible for payments and obligations with the shared management interest, and possibly even a member or shareholder in a management company. The Two Main Residential Interestsīack to the residential units, there are two types of interests which we’ll call ‘owners’ and ‘occupiers’.Īn owner actually owns the long term interest of the flat, probably through a long lease in a block of flats, say, or a freehold for a single house. Therefore these are different, and worst-case scenario if you’re managing the whole block is that you may have numerous different other agents involved in separate areas as well. So the freeholder or management company for the whole block may instruct managing agent ABC to manage the communal and structural parts on their behalf, whereas an individual flat owner may instruct XYZ to simply look after their own personal flat which has a short-term tenant in there. Knowing the Middle Manīefore we go into these, first understand that each residential unit interest may well have a managing agent acting for themselves, which will be different from the main one for the communal areas. It’s one thing knowing who they all are, but it’s another to know the right way to deal with them. Things get lively, and good property management, including specialist ‘block management’ experience is needed to handle all of these. You’re dealing with peoples’ own homes and therefore of course they will be more concerned about the little issues like an extra clean just as much as bigger-picture ones like service charge budgets.Īnd what’s more, you can have what appears multiple interests in any one residential unit. When you’re dealing with multi-let residential properties, life can get a little complicated with numerous requests and requirements from each occupier and owner. ![]()
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