I am about to complete the purchase of a BTL flat, which comes with the freehold for the entire building (three flats total, one per floor).

I have a few questions regarding management responsibilities: Maintenance: I understand that I will be responsible for maintenance going forward. Is it common and advisable to outsource this to a property management company? If so, what should I look for in a management service?

Building Insurance: Should I arrange for building insurance before finalizing the purchase? What type of coverage should I consider?

Sinking Fund: How does a sinking fund work in this context? What should I be aware of in terms of contributions and management?

Any pointers or advice from those with experience in similar situations would be greatly appreciated.