For leaseholders living in a block of flats, the management of their block can make the difference between being a happy resident or being miserable. It is, therefore, crucial that all residents of any given block, as well as the block owner (known as the freeholder), are satisfied with the maintenance of their building. Inefficient or incompetent block management can lead to personal stress associated to their home for residents, strained relationships between neighbours, inflated service charges for leaseholders and even legal action if the poor standard of block management devalues the individual property values. So, what if your Managing Agent isn’t living up to expectations? How can you change your Block Management Company if things don’t go to plan?
In this article, we’ll walk you through the process, prepare you for any complications that may occur, and explain how Horizon Management can help.
If you are a landlord, employing an ineffective Block Management Company could lead to your residents taking action to take over the Right to Manage your block. If you would like to avoid this option, it is recommended that you ensure your chosen Block Manager is up to providing a satisfactory service to both yourself and your residents.
If, on the other hand, you are a resident who is dissatisfied with how your block is being managed, you have the right to work with other leaseholders in your block to take over management from the Freeholder by forming a Resident Management Company (RMC). This allows you to take on the maintenance and legal provisions of your block, or to appoint a new Block Management Company to oversee the day-to-day management of the building.
Whether you’re a landlord or a member of a Resident Management Company, it is essential that you are aware of your rights and obligations to the other party when seeking to end your working relationship with your current Block Management Company. For example, depending on the details of your contract, you may simply be required to provide adequate notice of your decision; however, in some cases, things can be a bit more difficult.
At Horizon Management, we work with both landlords and Resident Management Companies to ensure the smooth and effective maintenance of their blocks. We have years of experience in providing efficient day-to-day management, working with developers and contractors to create a great place for residents to live. Our experienced and knowledgeable Managing Agents are happy to walk you through your decision to change your Block Management Company and help to make the process as easy as possible.
Once you are clear on your rights and obligations regarding your switch to a new Managing Agent, the next – and most important – step is to choose the right Block Management Company. Due to the unregulated nature of the Block Management industry, it is important to be vigilant when looking for your next Agent. Look into the accreditations and reviews of any Block Management Company you are considering.
For example, it is a good idea to check whether your potential Managing Agent is a member of ARMA – the leading professional body for residential managing agents in England and Wales. Being a member of a professional body, in addition to having accreditation from industry organisations is a good sign that your chosen Management Company is dedicated to providing quality services. Research your shortlisted companies carefully and prepare a list of relevant questions to ask the Agent with regard to their experience and processes.
At Horizon Management, we are a proud member of ARMA, in addition to having Institute of Residential Property Management (IRPM), and more! We are also regulated by RICS, who are a globally recognised professional body for qualifications and standards in land, property, infrastructure and construction.
If you are really unhappy with your current Managing Agent, no one would blame you for ending the relationship as soon as possible. However, as soon as you do this, you will only have a certain amount of time to appoint your new Managing Agent – typically three months. Within this time, the outgoing agent will also need to hand over all responsibilities, documents and resources to your new Agent.
While it may be tempting to leave this to happen without your interference, we recommend that you stay involved throughout the process – the good news is, an efficient and reliable new Managing Agent should aim to keep you informed at every stage.
The process of changing Managing Agents has become a lot more straightforward in recent years, largely thanks to the abundance of online resources that can help freeholders, RCMs and Managing Agents to affect an informed switch in a timely manner. If you have chosen a suitable replacement Block Management Company to take over, your new Managing Agent will do everything in their power to facilitate a successful and speedy transfer of the relevant information and funds.
At Horizon Management, we have worked with freeholders, leaseholders, RMCs and New Build Developers for years to deliver effective communication, efficient problem-solving, and financial transparency. Horizon Management were founded as leaseholders ourselves, we became disillusioned by the industry standard of block management. We are not the biggest Managing Agent in the industry, and do not aspire to be. We want to be the best Managing Agent and to do this we have clear company principles to ensure we develop last lasting relationships with our clients based on transparency, expertise and good value.
Get in touch with a member of our friendly, small but perfectly formed team to arrange a no obligation visit so we can give feedback on your block and provide a management proposal.
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