What is a Service Level Agreement?

These are the minimum standards that we ask our agents to meet in order to work with people searching through our site. This means, that they are all signed to up provide a certain level of service for each new building they take on.

Why does a building need this?

Many people have agents that are opaque! Do you know where exactly your buildings’ money is held? Do you know if all your costs are fair?  Do you have a hard time getting replies to your questions?

Our Service Level Agreement (SLA’s) are designed to help give you assurance that your next agents is better than your last.

Enforcement of Lease and Building Regulations

The managing agent will agree to uphold and enforce all tenants of a lease or share of freehold agreement unless:

• They contradict current UK and local borough laws, regulations and statues
• An agreement is made with the Leaseholder or Share of Freehold committee to disregard or alter these

Financial management:

• The managing agent operates within the RICS Service charge residential management code (3^rd edition)
• The managing agent makes a weekly statement of each account available and ensures monthly statements of all accounts are delivered to the building directors

Reporting

• The managing agent produces a budget in time for the beginning of the financial year
• The managing agent produces a quarterly reconciliation of expenditure to this budget and a corresponding forecast of changes to the year service charge requirements

Customer service

• The managing agent ensures that all complaints, issues and points raised over email, telephone and mail are acknowledged within 24 hours and assigned for resolution

Maintenance and inspections 

• The managing agent commits to completing an inspection of all common parts at least once a month and publishes a complete list of any issues, including but not limited to:
  • Cleanliness
  • Damages and wear and tear
  • Malfunctioning facilities
• This report will be circulated with building directors along with recommendations on mitigating actions

Procurement processes and quotes

• The individual property manage from the managing agent will be responsible for judging if an invoice to pay is correct – for the right service, for the right amount and for the right building
• The managing agent will ensue that all quotes obtained should be judged of reasonable costs by the property manager, who will be responsible for justifying these quotes.
• The managing agent will ensure that no commissions or kick-backs will be paid to the managing agents from any contractors working for the property without this being fully disclosed to the customer.

Break clauses and contract termination: 

• The managing agent will ensure that upon the contract being terminated, all monies must be transferred to the new agent upon instructions, within 30 days.
• The managing agent will incur a daily penalty – to be agreed by the customer if this is not the case