Approach at least three Agents inviting them to tender for the work.
Click here for a list of agents or consult the list of agents available from ARMA, their web site is www.arma.org.uk.
It is most important that you invite prospective agents to the building, to see it and to meet the RMC committee. Ideally, in the course of discussion, try to meet the Property Manager who will actually be managing the building. Try to visit other buildings presently managed by the prospective agent yourselves to judge their ability and competence firsthand.
When you interview prospective agents, you must ask questions. For example:
- what arrangements does the agent have for general maintenance inspections?
- how are minor repairs responded to and in what timescale?
- how are service charge monies collected and what are the agent’s banking arrangements – what arrangements are made regarding interest?
- how are contractors chosen?
- what arrangements are to be provided for emergency out-of-hours callouts?
- what commissions would the agent be entitled to receive from any contracts arising out of the services to you? A good agent should declare all such commissions to you.
The agent chosen may provide a draft contract or the management company’s solicitor may draw one up; alternatively, the Royal Institution of Chartered Surveyors have produced two standard contracts, one for purpose built blocks of flats and one for other properties. The Association of Residential Managing Agents also provides guidance to its members on drafting a suitable contract. Always seek independent legal advice before entering into the contract.
The information contained in this article has been taken from the publication Appointing a Managing Agent produced as a joint publication by ARMA, the Association of Residential Managing Agents, ARHM, the Association of Retirement Housing Manager and LEASE, the Leasehold Advisory Service.
