Exercising Your Right To Manage – Picking The Right Managing Agent

When you acquire the right to manage, you can opt whether to manage the block yourselves or to appoint a professional property managing agent of your own choosing.

It is very important that you invest time in finding the right managing agent as this can influence the value of the properties in your building. Here is some practical advice on finding the right one:

  • Ask how the managing agent’s team is structured and their level of expertise
  • Find out how they communicate with residents, e.g. via a bulletin board, by letter or online
  • Enquire if there is a structured accounting and reporting system in place and request examples which demonstrate how your money will be spent
  • Check if they carry out regular inspections and can reassure you that they will be monitoring problems and checking monthly
  • Check if they hold memberships of any professional organisations such as ARMA (Association of Residential Managing Agents) whose members have to satisfy an independent body of their competence. AMRA is also the only body in England and Wales to focus exclusively on the management of residential leasehold blocks of flats
  • Check if you will be given an out of hours contact number for emergencies
  • Check if you will have a dedicated account manager for your building
  • Choose a service tailored to the needs and expectations of you, the tenants and the building
  • Develop a good working relationship with the agent as this is key to the successful ongoing management of a building
  • Do your research on contractors, utilities providers, etc. for the block to ensure you are getting the best possible service and value
  • Enquire about what types of properties the agent currently manages and their similarity to yours
  • Ensure that you communicate your requirements to the agent so they can manage your expectations and supply you with the relevant information
  • Find out if the agent has many other properties to manage and if they have the time to adequately manage yours
  • Find out if they communicate well and regularly with the residents of their properties
  • Speak to the agent’s current clients and ask them to rate their performance and take  references – word of mouth is the most effective and reliable benchmark of a firm’s reputation

Looking For Specialist Right to Manage Legal Advice? 

Wherever you live in England and Wales, our team can provide the expert right to manage legal advice you need you – and can guide you through the whole process involved in exercising your right to manage. So for FREE initial phone advice;

  • FREEPHONE 0800 1404544
  • email our team using the contact form below
  • or for a FREE initial phone consultation call 0800 1404544

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