Approximate Cost Managing Agent

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    Approximate Cost Managing Agent

    Not sure if correct title but looking for someone to manage finances and lease building responsibilities. Victorian 12 dwellings building in Cumbris.
    What would an average monthly charge per dwelling be ? Would it be usual to charge for extras such as getting quoted for work ?
    Any advice on making an appointment valued.

    #2
    The managing agent for a block of flats is responsible for sending demands to leaseholders for payment of service charge and arranging the maintenance for the building include cleaning, gardening and insuring the building. The annual charge per flat may be £150 - £300 per annum depending on the agent.

    You can find managing agents advertising their services in the local telephone directory or in Yellow Pages. The standard of service offered by a managing agent should be complying to the " RICS Residential Management Code" which you may find online or buy a hard copy for around £25 from RICS Online Bookshop.

    Its better if you find a local managing agent working with local handymen/repair men. If you appoint a managing agent based 60 miles away to maintain your building and they are sending their workmen 60 miles distance to your block to change a light bulb, it does not look like good management.

    https://arma.org.uk/downloader/blv/A...ging_Agent.pdf

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      #3
      Much appreciated Gordon.

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        #4
        I think that in Cumbria, the annual charge is more likely to be in the £150-£200 per annum range. It is better if you can contact leaseholders in other blocks nearby to see if they can recommend an agent rather than plucking a name at random from a directory. The agent should be able to let you have a list of any additional charges which may apply. I recommend that you ask the agent if they receive any benefits from using certain contractors or commission from insurers, brokers etc so that you start on a transparent basis and make it clear that you wish the agent to remain transparent at all times.

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          #5
          Thanks. What do forum members think would be a reasonable percentage to charge for major works a) preparation of specifications b) obtaining competitive tenders, tender reports and supervising all major works ?
          At what sort of level does something become a major work ?

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            #6
            It's not just "Major Works" - it's ALL maintenance procedures, from changing light bulbs, to a new roof

            Most charge 10%.
            But Major Works of say £ 50,000 for a new roof, would be £ 5,000 extra, which is far TOO much to add for 3 phone call for quotes, 12 copies of stage one, two and 3, and one phone call to place the order.

            supervising all major works. You mean supervising all works.
            Don't make me laugh, -- an agent supervising works,, pull the other one.

            I have never seen an agent supervising anything. They want their nice warm office.



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              #7
              Extended from above.
              Major works is classed as any one item that exceeds £ 250 payment for any one leaseholder

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                #8
                Thanks ram, as usual informative and based on experience.

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                  #9
                  Originally posted by scot22 View Post
                  Thanks ram
                  Further to post 6, Agents can employ a project manager to look after extensive repairs / maintenance, which of course can add £ 1000 upwards to the quotes, together with the agents 10% on cost.
                  Agents are not qualified project managers, and in my view, wont know what to do, anyway
                  .




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                    #10
                    Thanks . I'm sure many blocks could be run by volunteers. However, past experience, work done by only a few who are subject to criticism.

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                      #11
                      What distance from the property could be considered local ?

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                        #12
                        Despite hours of internet search I have not been able to find a property manager, managing agent ( not sure of difference ) in South Cumbria. Can anyone recommend someone or even just know of one ? I'm not being lazy just increasingly frustrated by not finding any possibility. Please help.

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                          #13
                          As you are in South Cumbria ( latitude of Kendal / Windermere and below ) I may be able to help.
                          Will send you a private message later today.
                          Regarding local agents, then 10 miles could be considered local. But much, much further is often acceptable ( if you find a good one )

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                            #14
                            As you have 8 directors, THEY have to agree to employ a managing agent. Will they agree ?
                            If not, then you may have to go to the F.T.T. to get one appointed ( provided you can prove your case of the RMC being inept )
                            Hence I have not sent you a message yet.

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                              #15
                              Thanks ram. It is agreed.

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