APPOINTING A MANAGING AGENT


Your blockneeds apropertymanager.Whatdoyou do next?Onthe following pages we look at the benefits and pitfalls of appointing amanaging agent


and offer some advice about what to do if your agent doesn’t provide the level of service you expect


successfully requires knowledgeoflandlord and tenant legislation, an understanding of buildingconstruction, familiaritywith the health and safety regulations, basic accounting andmore. Before youappoint an agent, here aresomeofthe aspects you and your fellowRMC directors should consider. First,drawupascheduleofall theservices


managIngagent *


Appointing a


The role of amanaging agent is complex and requires aprofessionalapproach to get it right. To carry out the role


youneed fromaprospective agent. The AssociationofResidentialManaging Agents (ARMA) provides a checklist (see website detailsatthe endofthisarticle).Make a shortlistofpotential agents -ask otherflat owners or fellow residents in your own block fortheir recommendationsaswellasgoing to the websites of local agents to get basic informationabout theirlocation,services and contact details.


properlyqualIfIed? Whenyou areappointinganagent tomanage your block, look outfor firmsthat carry membership of an established professional trade body. Appointing aqualifiedagent offersyou


protectionagainst negligence andaccessto an official complaints handling procedureif somethinggoeswrongaswellasinsurance protection for your service chargemoney. It alsomeans that theagent youuse is likely to offer ahigherquality of servicethana companythatisunregulated.


rIghtquestIons Always invite potentialagentstocomealong tomeet youinformallybeforeaskingfor a formal tender.Makesureyou have acopyof astandardlease forthe blockand an annual statementofaccounts.Any good agentwill wanttolookatthese if they aretotenderfor thejob.Atthemeetingthere areanumberof


issues that should be raised: nBe upfront about any problems you think will need to be tackled such as current debtors, relationswithany existing or former agent


Flat Living Summer 2012 askIngthe Ismyagent


accountingandindependentprofessionaljudgement. Thepositionisfundamentallyoneof trusteeshipand ifthis is alwaysattheforefront ofanagent’sthinking thenmanyconsequencesfollownaturally, including theneedforbestvaluepurchasing,financial transparencyandarespectfortheinterestsofthe


beneficiariesofthetrust,whoarethelessees.” duncanrendall,chairman, Rendall&Rittner


andthe stateofthe block’scurrent finances. Theagent will askyou arange of questions to


determinewhat he or she might be taking on. nFind outwho will be your keycontact if the agent in question takes on your property management.Besuretoemphasisethat youwanttomeetthatpersoninadvance of making adecision. Also ascertainwhat will


happen if that person is sick or on holiday. nFind outwho will handle phonecalls and


emails fromRMC directors and flat owners. nWhowillchoosecontractors that areused


to carryout worksonyourblock?Doyou want to retain final approval?Ifso,make that clear


fromthe outset. nAskabout disclosure of commissions –


47


“Ithinkthemostimportantservicesamanaging agentcanprovidearesoundfinancialcontrol/


meet potential


agents before asking foraformaltender


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64