APPOINTING A MANAGING AGENT
Getting it
first right
time
FirstoFall, knowwhat you wantwhen you plan your search. Ihaveservedontwo boards, oneinadevelopmentof38flatsand oneof around 160. On thefaceofit, theseare very different estates,but size is notnecessarily important. Inmyexperience,the services and approach required fromamanagingagent are much morestronglyinfluenced by thehistory of theblockmanagement andthe working styleoftheRMCboard than by thesizeofthe block in question. Forexample,anRMCwhichhas previously
self-managed and is looking to take on an agent forthe first timemaybelooking forapartner to provide advice on the increasingly complex legislative environment and offer ‘light touch’ support. It is essential to thesmooth running of the searchand selectionprocess that theRMCis clear about this, and that they communicate it clearly to potential agents. Whereaboard is seekingtochangeits
managingagent, they should take timeto consider carefully the reasonswhy theywant to make thechange. Identify thethingswhich are causing dissatisfactionwith the existingagent andwhichthe newagent should do differently. If aboard finds it is changingagentsona
regular basis, they should not be afraid to take alookatthe politics andprocessesofthe board itself - is the common thread of dissatisfaction boundupinthe actionsorapproach of the RMCratherthanwiththe appointedagents? Askfor recommendationsfromRMCs on
other estateswhichyouknowto bewell-run. Always interviewpotential agents,andtake up references;make sure yousee the teamwhowill look after youratherthanjustthe newbusiness team– theymay be quite
different.Chemistry is vital to the relationship - this is not just a business transaction, this is about people’s homes and lives. It is necessary to commit time and thought to your search– butwellworthit to find the right agent for the block.
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RMCdirector alaNWalkEroffers some tips forfinding theright manager for your block
working relationship Once you have found the right agent, you then have to work together to ensure your block is effectivelymanaged and that the agentisfulfillingyourexpectations. Thekey to this is communication, communication, communication. Make sure the appointment process
involves aclear brief–and retain this rigour as youset outand update your aims and objectives forthe estateasyou work alongside
Laughalot,talk oftenandmeet regularly
theagent.Alwaysdouble-checkthatyour agenthas understoodyourrequirements andinstructions.What is said andwhatis understoodmay not be the samething. Setupformaland open linesof
communication– with regular updates from the agent to the board so that it is clear to all members, andindeed to theagent andpartners, thatmatters are in hand and progressing.
potential proBlems
andhowto Beat them There are a fewcommon issues that cause problemsover andoveragain in the relationship betweenRMCs and their property managers. I have listed the ones I have come
acrossmost frequently. nMisunderstanding–itisimportant to remember that people can attend the same meeting and hear the samediscussion
Buildinga Chemistry
is vitaltothe relationship
yet comeaway with entirely different impressions ofwhat wassaidandwhat is to
be done next. nlackof clearinstruction–itisvery importantforRMCboardstomakesurethat discussion around topicsofinterest is always closed with an instruction,whether it be to
research the question further or to act. ntime-lag -timelost betweenmeetings when aboard expects action andthe agent awaits instructionisfrustrating and
unconstructive for both parties. nNotcommunicatingproblemsquickly enoughorinenoughdetail toenable themtobehandled – as with any board of directors in any commercial company, the mottoshouldbe‘no surprises’.Itisessential forboardstohavenewsofproblemsorof possible difficulties ahead,whatever their nature,inorder to plan andact to mitigate or avoidthem. All of these problems can be avoided
or overcomethroughclear andregular communication.
fromyourmanager Mybest advice is to laugh a lot, talk often andmeet regularly. Treat themanagement of your blockasaprofessionalworking relationship – readwhat the agent sends you; preparefully formeetings; listen as well as speak. Make sure you select an agentwho
understands that this is notjustany job, butisabout peopleand theirmost valuable asset – and thus... a very important working relationship forRMCdirectorswho are personally involved in the estate.●
alanWalker Director,StreathamManorGardens Ltd, SW16 Email
alan_walker@fastmail.fm
Summer 2012 Flat Living gettingthe Best
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