Managing Buildings and Estates
Managing a block of flats involves all of the disciplines involved in managing a business. It requires specific skills and knowledge as well as commitment to the job.
Peter Butlin, Director of Leicester, Nottingham and Derby block managers Butlin Property Services, is consulted regularly on the management of blocks of flats and estates of houses. His clients range from Developers of new buildings and estates to long established blocks of flats going back to the 1750s.
Peter Butlin firmly believes that as a leaseholder it is important to take an interest in how the building is being managed and who it is being managed by. A poorly managed property can have an impact on the long-term enjoyment of the home and potentially its future value.
The landlord is responsible for the overall management of the building or estate. This could be an individual person or a limited company. It could also be the leaseholders
themselves if a residents’ management company (RMC) is in place. The majority of landlords in blocks managed by Butlin Property Services are RMCs. However, the block or estate is structured all parties have a common interest in ensuring its effective management.
WHY USE A MANAGING AGENT?
Managing a block of flats requires a professional, dedicated approach. Managing agents need to have a good knowledge of landlord and tenant law, building construction, health and safety regulations, service charge and company accounting and a range of other skills.
Managing agents take instructions from the landlord not the individual leaseholders. But a good managing agent will always be aware of the requirements and wishes of the flat owners. From keeping the lift working to doing the accounting; maintaining the garden to decorating the hallway the managing agent plays an important part in the life of a leaseholder and the smooth running of the building.
Whoever appoints the managing agent, as a leaseholder you pay for their services through your service charges. It is therefore in both the landlord and the lessee interests to have a professional and experienced agent who does the job well.
WHAT YOU SHOULD BE ABLE TO EXPECT FROM YOUR MANAGING AGENT
A good managing agent will be:
- Have a full understanding of the structure and meaning of leases
- Have thorough knowledge of relevant Landlord and Tenant legislation
- Be committed to best practice and to good customer service
- Comply with relevant standards and codes of practice
- Be a member of a recognised regulatory body with a Client Money Protection scheme
- Operate an independent complaints procedure
- Be subject to external scrutiny, and in particular have annual financial checks for all client accounts by external Accountants
- Be able to provide detailed accounting for budgeting, service charge and year-end accounting
- Be able to support the landlord and the leaseholders in ensuring service charge money is spent wisely
For a free appraisal of your development please do not hesitate to contact us on 0116 270 3705 or email@example.com. We will be happy to review your service charge and the management of your building as required.