BBBMLSelection and Appointment of A New Managing Agent
A managing agent’s job is often a thankless one, 90% of the time they are just fielding complaints, but that does not necessarily mean they are not performing.
Selection and Appointment of A New Managing Agent
After undertaking a management review, I may conclude that your incumbent agent is providing a first-class service.
I will not criticise just for the sake of it as that serves no purpose.
A managing agent’s job is often a thankless one, because ninety percent of the time they are just fielding complaints, but that does not necessarily mean they are not performing.
However, if serious shortcomings are revealed and cannot be addressed, then the point may be reached when there is no option but to change agent. But how do you select a new agent and how do you know you are not jumping from the frying pan into a fire?
The assigned property manager is always the face of a managing agent and a good working relationship with that individual is critical, but the importance of the property manager’s accountancy and back-office support should not be underestimated.
I list below, in order of priority, the managing agent attributes that my previous clients and I consider to me most important:
- Communication with the RMC directors and leaseholders
- Day to day availability of the key staff, including the property manager and accountants
- Regular liaison with the RMC
- Collecting service charges and chasing non-payment
- Producing the annual budget in plenty of time
- Producing the annual service charge accounts within a reasonable timescale
- A good relationship with contractors
- Payment of contractor invoices in a timely fashion
- Management fees
You will note that management fees are at the bottom of the list. This is because, like in many walks of life, people are prepared to pay more for a better service. The cheapest is usually not the best, but at the same time, the same is often true of the most expensive.
I can assist RMCs by preparing a shortlist of suitably qualified block managers, inviting tenders, undertaking interviews, seeking references and then guiding you to a decision based on your priorities and on the strengths and weaknesses of the different agents. I can then assist in ensuring there is a smooth handover from the old agent to the new.
Providing Independent consultancy - my services
Berkshire and Buckinghamshire Block Management and Leasehold Consultancy Limited (BBBML) is an independent consultancy practice specifically set up by Julian Butcher to provide impartial advice to leaseholders, resident management companies, residents associations, freeholders and developers.
Concerned about your current agent? Let me undertake a full review of their performance to ensure they are delivering a quality service and offering value for money.
Thinking of changing agent? Let me assist you with tendering the contract, shortlisting, interviewing and appointing the right agent for your development.
Managing a building yourself can be a daunting task. There will be times when you will need some assistance. I can offer you my professional input, as and when you need it.
Looking to take more control over your building by claiming your Right to Manage or purchasing the freehold? I can explain the options and guide you through the relevant process.
Feeling out of your depth? Whether you are an individual leaseholder or a group of residents, I can provide advice on a range of topics as and when you require it.
If you are a freeholder or developer aiming to maximise the return on your investment, then I can help you with the building design, the lease terms and the service charge structure.