Managing your block

As a leaseholder, you should take a keen interest in how your building is being managed and who it is being managed by. A poorly managed property can have an impact on the long-term enjoyment of your home and potentially its future value.

It’s normally the landlord who is responsible for the overall management of the building. This could be an individual person, a company or a local authority. It could even be the leaseholders themselves if a residents’ management company (RMC) is in place.

Some landlords may choose to manage the building themselves but it’s more common for them to appoint a professional managing agent to manage and maintain the property on their behalf.

WHY USE A MANAGING AGENT?

Managing a block of flats requires a professional approach and the time to do it. Today’s managing agents need to have a good knowledge of landlord and tenant law, building construction, health and safety regulations, basic accounting and a range of other skills.

Managing agents take instructions from the landlord not the individual leaseholders. But a good managing agent will always be aware of the requirements and wishes of the flat owners. From keeping the lift working to doing the accounting; maintaining the garden to decorating the hallway the managing agent plays an important part in your life as a leaseholder and the smooth running of your building.

Whoever appoints the managing agent, as a leaseholder you pay for their services through your service charges. So its in your interests to have a professional and experienced agent who does the job well.

WHAT YOU SHOULD BE ABLE TO EXPECT FROM YOUR MANAGING AGENT

A good managing agent will be:

Knowledgeable

• Have a full understanding of the structure and meaning of leases
• Have thorough knowledge of relevant Landlord and Tenant legislation
• Help you understand your rights and obligations

Professional

• Committed to best practice
• Committed to good customer service
• Comply with relevant standards and codes of practice
• Operate an independent complaints procedure
• Be subject to external scrutiny

Transparent

• Able to provide full accounting facilities for budgeting, service charge and year-end accounting and give you access to them
• Able to support you and your fellow leaseholders in ensuring that service charge money is spent wisely
• Open about connections with other service providers and about commissions