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
393
Average number of buildings managed
200
Average building gained over past year
6
Average building lost over past year
3
Average time managed each building
5.6 years
Average number of RTMs managed
45
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
