Role of the Managing Agent

The managing agent should bring an organised approach to the planning and collection of the service charges and reserve funds, the timetables for redecoration and repairs and inspection and supervision of works. (Their assessment of what must be done, and when, will be independent of private interests and preferences and based solely upon their duty to keep the premises in good repair).

The process of collecting funds and the responsibility for taking steps to recover unpaid charges will be removed from the individual directors of the RMC.

A managing agent should be geared up to handle the mundane and time-consuming administration, and may handle it more efficiently through better facilities for storage and retrieval of records and documentation essential for accounting purposes.

Managing agents should deal with issues and disputes with impartially by an arm’s length agent in order to limit the animosity and division which could arise where personal issues become the business of neighbours and colleagues.

The managing agent distinguishes between the needs and duties of the company under the Companies Acts and the needs and duties of the company in its separate role as landlord under the leases and the relevant landlord and tenant legislation.

A professional managing agent should hold professional indemnity cover as a further protection against negligent acts or incompetence.

Although the directors of an RMC are ultimately responsible for setting policy and monitoring the work of the agent, the agent takes away the work and monitoring involved in ensuring compliance with leases, laws and codes of practice to the agent.

Please refer to our services page for more information.