How We Save you Time, Money and Stress by The Mayfair Times
Put your trust in Bold & Reeves and allow yourself to focus on the things that really matter.
At Bold & Reeves our core purpose is to reduce the total cost of ownership (TCO) for prime and super-prime properties.
And although ‘Residential Asset Management’ is our official field of work, we see the concept of TCO to be a major part of our expertise and knowledge base. So what is meant by this term and why have we chosen to focus our value proposition around it?
Originally a purely commercial concept, where it is used for full cost accounting, TCO is only recently anything more than a corporate term. Originally developed to accurately asses the entire costs schedule for commercial procurements or developments of any kind, including systemic impact, depreciation and any costs related to decommissioning, TCO has long been seen as the minimum required level of awareness when embarking on schemes of this kind, that require significant investment that could potentially hide unknown quantities of risk.
Likewise, with the onset of super-prime consumer purchases (often with similar price tags) such as boats and aeroplanes, owners and prospective buyers have long sought full clarity on TCO, aware that projected running costs are high – and that mistakes can mean eye-watering additional expenses.
At Bold & Reeves however, we are aware that this easy to understand concept has not been transferrable to residential properties in the same way as it has in other sectors. It is often safe to assume that owning a yacht or a private jet will carry an annual 10% cost of the purchase price… which is an almighty consideration if your boat was $100m. But what of a house with a similar price tag? How does one accurately predict TCO?
The answer is that it is a far more bespoke process than with other assets of a similar value. Variations on themes such as energy, utilities, safety and security can vary hugely on the size of the property, and benefit from real consistency of awareness and record maintenance. Likewise, continual maintenance of the building exterior and interior and replacement of materials need appropriate vigilance and expertise, while updates to design and functionality are once again potentially huge, especially when one takes listed buildings into account.
Asset & Risk Management for prime and super-prime homes is about managing, maintaining and monitoring our client’s properties. At Bold & Reeves we take responsibility for the implementation and expenditure of all associated activities, working with our curated partner network to oversee the details of every intervention, generating data-supported savings as we do so, that consistently compound over time and significantly reduce prime and super-prime residential TCO.
Throughout their journey with us, we also work to save our clients time and stress, while adding value to their properties as we do so. In divesting the management of their residential assets to our team of passionate, seasoned and accountable professionals, clients relieve themselves of a major responsibility of care. In doing so, they are empowered to focus on their priorities, safe in the knowledge that another area of life is being handled in an optimal way.