Using a managing agent
Appendix 1: Checklist of possible services required from managing agents
Financial
- Preparation of an annual budget for service charges
- Regular billing and collection of service charges, including management fees
- Provision of a periodic budget report of income, expenditure and cash flow
- Arrange for the preparation of draft accounts in anticipation of an examination by an independent accountant
- Preparation of a reserve fund plan relating to cyclical maintenance
- Weekly/monthly payment of wages and other invoices
- Arrears collection management
- Provision of advice on block insurance and any other appropriate cover
Relationship with residents
- Attend to routine enquiries from lessees and residents
- Respond to solicitors’ and lessees’ enquiries regarding sales and licences
- Attendance at general meetings of residents (there are XX per year held at XX normally between XX am/pm)
- Administration of insurance claims
Repair and maintenance management
- Preparation of a long-term maintenance and repair plan
- Deal with day-to-day repairs and maintenance promptly and efficiently
- Preparation of maintenance plans and contracts for plant and machinery
- Advise on major contract work and the use of specialist professionals and contractors
Lease compliance
- Ensure compliance with the terms of leases and policy agreed with the board and, where necessary, subject to landlord authorisation, instruct solicitors in relation to breaches.
- Represent the landlord at County Court, arbitration and tribunals
Staff management
- Prepare job descriptions for employees and specifications for contractors when inviting tenders
- Supervise any employees and regular contractors such as cleaners on behalf of the employer
- Ensure appropriate training and compliance with health and safety and employment legislation
Landlord and tenant advice
- Advise the board on residential landlord and tenant procedures including statute and practice
Board support
- Advise the board on a suggested management policy
- Provide a status report of financial, maintenance and legal matters
- Report on significant lessee communications
- Document management procedures and issues
- Produce a periodic newsletter to residents and other circulars
- Keep board informed of status of agreed actions
- Company secretarial work, for example preparation and distribution of the notices for the AGM/EGMs (not all managing agents will be willing to offer this service)
- Risk management, fire safety and health and safety compliance
- Last updated:
- 27 August 2021
- Next review:
- 12 December 2026
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