The Role of a Managing Agent
Choosing the right managing agent is one of the most important decisions a freeholder, Resident Management Company (RMC) or Right to Manage (RTM) Company can make. A good managing agent can help protect property values, maintain compliance, control service charge costs and improve the overall standard of management within a development.
Unfortunately, not all managing agents provide the same level of service.
A managing agent acts on behalf of the freeholder, RTM Company or Resident Management Company to oversee the day-to-day management of a residential block or estate.
Responsibilities typically include:
- Service charge budgeting and administration
- Collection of service charges and arrears recovery
- Contractor procurement and management
- Planned preventative maintenance (PPM)
- Health and safety compliance
- Fire safety management
- Building Safety Act compliance
- Insurance administration and claims management
- Resident and director communication
- Major works projects and Section 20 consultations
A good managing agent does far more than arrange contractors and pay invoices. They provide strategic advice and help ensure the long-term sustainability of the development.
What You Should Expect From Your Managing Agent
Transparent Financial Management
Leaseholders and directors should have access to clear and accurate service charge accounts, budgets and supporting financial information.
Responsive Communication
Enquiries should be acknowledged promptly and residents should be kept informed about important developments affecting their building.
Regular Site Inspections
A managing agent should routinely inspect the development, identify issues early and ensure maintenance standards are maintained.
Compliance Management
Residential developments are subject to increasing regulatory requirements. A competent managing agent should help directors and freeholders navigate obligations relating to fire safety, health and safety, Building Safety Act compliance and statutory inspections.
Competitive Procurement
Major contracts and maintenance works should be competitively tendered where appropriate to ensure value for money and transparency.
Long-Term Planning
Effective property management is about more than reacting to problems. A good managing agent will help develop reserve funds, planned preventative maintenance programmes and long-term asset management strategies.
Warning Signs of a Poor Managing Agent
Common concerns raised by leaseholders and directors include:
- Poor communication
- Missing or incomplete service charge accounts
- Lack of transparency
- Failure to consult on major works
- Excessive service charge increases without explanation
- Long-standing maintenance issues
- Poor contractor performance
- Lack of proactive management
These issues can lead to frustration, disputes and unnecessary costs for leaseholders.
Does Accreditation Matter?
Professional accreditation can provide reassurance that a managing agent operates to recognised industry standards.
Look for membership of professional organisations such as:
- ARMA (Association of Residential Managing Agents)
- RICS (Royal Institution of Chartered Surveyors)
- IRPM (Institute of Residential Property Management)
However, accreditation alone should not be the deciding factor. Experience, communication, transparency and the quality of service provided are equally important.
Choosing the Right Managing Agent
Every development is different. The right managing agent should understand the specific needs of your building, provide clear communication, maintain strong financial controls and offer practical solutions when challenges arise.
At Archery Estates, we have built our reputation by helping directors, freeholders and leaseholders navigate complex property management challenges, from service charge issues and major works projects through to Building Safety Act compliance, insurance claims and difficult management transitions.
Looking for a New Managing Agent?
Whether you are considering changing managing agents, exploring the Right to Manage process or simply looking for advice on improving the management of your development, Archery Estates can help.