Flat-Living.co.uk ARMA
What is a managing agent ?
A managing agent is a person or a firm that is appointed by the
freeholder, the head lessee or the Residents’ Management Company
(RMC) of a property to manage that property on their behalf.
In the case of residential leasehold property (subject to the lease permitting
such an appointment) the managing agent contracts with the freeholder,
head lessee or RMC to manage the property in accordance with the terms
of the lease and statutory requirements. The freeholder or head lessee may
be an outside investor or, indeed, the lessees themselves in the form of an
RMC.
It should always be remembered that the managing agent is only the agent
of the freeholder or the person/organisation with legal responsibility for the
management of the property, thus the ultimate responsibility for the full and
proper management of the property will always remain with such a party.
A lease is a contract between the lessee and the freeholder (often referred
to as the lessor) to which the managing agent is not normally a party.
The information contained
in this article has been taken
from the publication ‘About
Us’ produced by ARMA.
This can be downloaded from
www.arma.org.uk or
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www.flat-living.co.uk
KEY:
Area 1: north West
Area 2: Midlands
Area 3: Wales
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Before making a change speak to the leading
independent managing agent.
01905 361082 /
service@mainstaygroup.co.uk
www.mainstaygroup.co.uk
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