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The Private Office: Saving the day with property management services

31 May 2023

Imagine this: you are a successful entrepreneur. You are incredibly busy, with a young family as well as business activities and investments spanning multiple worldwide locations. You own property in London as well your home in Dubai. Your London apartment lies empty for long periods between infrequent visits. The first alert that a leak has occurred comes from the downstairs neighbour. What do you do?

The above scenario is based on the experience of one of our own clients, who had been long-standing private wealth client of IQ-EQ. Our specialist property management team at The Private Office was called upon to urgently attend the property, investigate the leak and assist the client with any damages.

Saving the day, to the highest of standards

On our first visit to the property, we struggled to open the front door due to the large volumes of mail lying inside. It transpired that the post had not been opened in three years! With the client’s permission we went through all the letters, dealt with all of the property related matters, including service charges and utility bills, shredded the junk mail and left a small pile of envelopes for the client’s attention.

After further discussions with the client it became apparent that no contents insurance was in place and, moreover, none of the specialist artwork had been valued or insured. Through our various contacts we were able to provide contents cover the same day and arranged for the numerous pieces of art (including a Picasso!) to be appraised and then protected appropriately.

The leak was investigated and we found it had been caused by the apartment above. To repair the affected room, we arranged for two trusted and proven contractors to quote for the work. We dealt directly with the buildings insurance company to approve the claim and oversaw the repair work.

Initially, the insurance company refused to pay enough to cover the cost of redecoration; however, through negotiations and meetings with the loss adjuster, we were able to appoint specialist interior designers to redecorate the room to the highest standards. In particular, we ensured that a hand-painted wall mural, which had been one of the client’s primary concerns, was retouched perfectly.

From property to lifestyle

From there, our engagement with the client expanded to include some of our lifestyle management services in line with their upcoming summer family visit to London. We arranged for a chauffeur to be at the property every day, a personal trainer three times a week, a chef to not only cook but teach the family, a housekeeper and babysitter.

For the children we hired a piano, which was installed prior to their visit, and arranged for a piano teacher as well as maths and English tutors to visit the home on a regular basis.

We also made numerous restaurant reservations, securing tables at notoriously difficult to book restaurants, and acquired tickets to the best shows in London, including Saturday night tickets to the latest huge hit, Hamilton, with only three days’ notice.

Peace of mind assured

The Private Office aims to take away any headaches our clients may have when it comes to their lives in London. Owing to our prime Mayfair location and extensive experience, we are ideally suited to managing clients’ London properties. We visit our clients’ properties on a weekly basis, enabling us to deal with issues proactively and ensure that insurance remains valid.

Engaging a local property management company means your client’s property is maintained to an impeccable standard, issues are dealt with quickly and homes can be prepared for arrivals at the shortest notice. If you have any clients who would benefit from any of The Private Office’s property or lifestyle management services, please don’t hesitate to get in touch:

Working with IQ-EQ has been seamless – you and your team understand our business, advise us appropriately, and handle your side of our collective partnership so that we can focus on making good investment decisions. Evan Gibson SVP, Merchants Capital

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