What does a managing agent do for a leasehold block day to day?
We collect the service charge, keep the accounts and the statutory records, instruct and supervise contractors, arrange the buildings insurance where the lease requires it, and report to the leaseholders and the freeholder on spending and on works planned for the building.
How is the service charge worked out and when is it due?
We prepare an annual budget for the block, divide it according to the proportions set out in each lease, and issue demands in advance. We explain the main headings in the budget so you can see what each sum covers, and we hold a contingency for larger repairs.
Who decides whether major works go ahead, and how much say do I have?
On larger programmes we obtain competitive tenders, share the specifications and costs with the leaseholders, and consult as the leases and the legislation require. Leaseholders may comment, and where the lease provides for it, may nominate a contractor.
How quickly are repairs dealt with once they are reported?
Emergencies are attended and made safe as a priority, often the same day where a contractor can reach the site. Routine repairs are logged, inspected where needed and instructed in the order they are received, with progress noted until the work is signed off.
Can I see the accounts and the invoices behind the service charge?
Yes. You may ask to inspect the accounts, the invoices and the contracts for the block, and we answer such requests in writing. The certificate of expenditure is prepared annually and made available to every leaseholder covered by the block.
What do you charge, and how do we end the arrangement if we wish to?
Our fees are agreed with the freeholder or the block before we take the appointment, and we set them out in full before you sign. The terms of the management agreement govern how the appointment ends, and the block's records are handed over on the agreed date.