What to look for when approaching a new managing agent

If you are reading this then it’s likely that the standards of service you receive from your managing agent have already fallen to an unacceptable level – see the examples below.

You can request a report on the expected service levels and the expected agent performance you should be asking for, based on a survey of other nearby buildings.

In addition, you can request help with your tender document and to list the specific things you should ask for when approaching a new managing agent.

Generalised managing agent performance data across the UK
Number of agents across UK
Average number of buildings managed
Average building gained over past year
Average building lost over past year
Average time managed each building
5.6 years
Average number of RTMs managed
Average size of building
13 units

Examples of Poor Performance That You Should Look Out For

Category Common issue Severity When You Should Consider Leaving Existing Management
Agent Satisfaction Rates Agent loosing a large part of its portfolio over past year Very High Soon - this is an indicator of poor satisfaction level and wider management issues
Insurance Incorrect insurance coverage or charges Very High Soon - such failures can lead to your building being left uninsured and fighting claims in court
Health & Safety Health and safety checks incomplete Very High Soon - such failures can lead to the building directors liable for failures in the building
Accounting Yearly accounts not published on time High If this happens more than one year in a row
Service Levels Managing agent have not agreed SLAs for building High Inevitably this means that service levels will slide without flat owners having much power to correct this
Inspections Building is not regularly inspected High This means that problems will not be found and long-term issues may worsen
Communications Managing agent not responding to emails and phone calls Medium This is a major frustration with many managing agents and can lead to wider problems with the building
Service Charge Service charge is increasing and not explained Medium Money can be going missing and paid out to none-valid suppliers
Insurance Energy Bills Medium Commissions may be being paid increasing your bills
Licencing & Subletting Building licencing processes are not completed (e.g., for lettings or flat alterations) Medium Where there are a large number of live-in flat-owners and the building living standards need to be maintained
Accounting Bank statements showing cash-held cannot be provided Medium This may show that money is not being held according to best-practice

Request A Report

To see what service levels you should ask for, for your building please request a report below. We will show you:

  • Examples of good, medium and bad service levels
  • What service levels other, similar buildings are getting
  • What you should ask for and agree with a new block manager

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