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Why outsource property management? TheMainstayGroup’sRobert Fieldconsidersthecomplexitiesof property managementandarguesthat it isbest left to theexperts
Backin 1972myDad had an Austin Princess, at least I think it was–mymemorymay be playingtricks, butthere is one thing Iamcertain of; he did notget it serviced by thedealer. He changed the oil, the spark plugs and the air filter himself periodically and took it round to hismate’sgarageifsomething more serious went awry. It went rusty and gave hima bad back. Nowadays cars have become
so complexthatdealerservicing is virtuallybuiltintothe design. Someof the latestmodels don’t even give accesstothe engine area and don’t even think about trying to change thewheel of a two ton vehicle with a flat tyre that hasmachinetightened nuts. Oh, and step well away fromthe motorway hard shoulder. Buildings havemoved
forward inmuch the sameway. The biggest difference is in the complexity of the systems that they utilise,whether it is comfortcooling,centralised heatingand hotwater,fire detection,emergencylighting, liftsorsimplythe entrysystems. You are not going to get your spanner outand getcracking unless you have a series of specialist qualifications and full professional indemnity insurancebehindyou. Imagineabuilding that is
managed by a wellmeaning and conscientiousteamofresident ownerswho are directors of the residents’management company. They work hard to keep their building in excellent condition whileachieving savingsacross the board. Inmany respects they succeed.But someresidents take advantage of theirgood
Flat Living Issue 15
nature by choosing not to pay and questioning everything in detail. Even routinematters, such as changing light bulbs, have potential risks and, since common partsare defined as a ‘workplace’, a real duty of care falls upon the directors forthe health andsafetyof those undertaking the work. Finally,when they areunableto
dealing with breachesofthe lease and taking on thosewho seeevery dayasachallenge to authority. It willmean working in partnershipwithresidents’ representatives, taking their instruction; also providinggood counsel. Look for independence, strong
leadershipand quality systems. Most of all successful agents
modest andthereductionin real risks is significant
ascertainwhetherthe proposed repair costsassociatedwiththe ageing lift arereasonable, they throwin the towel. Mycontention is therefore;
outsourcing property management is theright andproper thingtodo-the costs associated with doing so arerelativelymodest and thereduction in real risksis significant and it will give you peace of mind. I could go on to argue that
communitiesdon’t always act collectively forthe greatergood, or in each other’s best interests – butthatmakesmesoundlikea curmudgeon, so I won’t Managing agents are just
that: agents. AtMainstay our role is to facilitate best practice, best valueand to mop up all theissues that ariseinthe daytodaymanagement of your development. Thesewill include negotiatingcontracts, inspecting works, setting budgets and collecting the funds,
will be defined by strong, highly experiencedleadership. Have a close look at the directors. In summary, outsourceyour
management because: nselfmanaging is sometimesa thanklesstask
thecosts...arerelatively
nThecost perunitfor professionalmanagement
remains relatively low nAgents areall (intheory) properly qualified, insuredand
can deal with big issues nAgents remain an independent and accountable third party
when dealing with issues nAgents will deal with your non
payers and nuisances nAgents will look after your health and safety, security and
quiet enjoyment nAgents will deliveracustomer response 24/7 …and, just becauseDad used to
servicethe Austin,you wouldn’t dreamofdoing it nowwith the family hatchback, so too it is with thecomplexmodern systems installed in blocks and myriad regulationssurrounding them- get an expert on it.●
Toreadthis article in fullgo to:
www.flat-living.co.uk/ advice/51-outsource
What else is thereonline forme? Othertopicscovered by
this area of thewebsite include: nThe right to appoint a manager
http://www.flat-living.co.uk/advice/511-the-right-to-appoint-a- manager
nWhat to checkwhen appointing a managing agent
http://www.flat-living.co.uk/advice/277-what-to-check-when- appointing-a-managing-agent
nWhat skills should your managing agent have?
http://www.flat-living.co.uk/advice/279-what-skills-should-your- managing-agent-have
nQuestions to ask your managing agent
http://www.flat-living.co.uk/advice/278-questions-to-ask-your- prospective-managing-agent
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