Because director of a leading property management company I actually is acutely aware of the need for improvement to freehold property management services. Whilst the property services profession in this specialist field requires to repair its tarnished image, may I suggest that clients can play a key role in this process by increasing their awareness. Landlords, leaseholders, freeholders and resident management companies are, after all, a key component in choosing their wedge management agent. ready today
When employing a freehold manager or managing agent to look after your service demand monies would you, as a client or property owner, not stand to gain by more carefully considering the fundamentals? Why not think about how precisely you can better define your house services requirements? By applying a few relatively simple, common sense measures you might well avoid the shock of employing a lesser quality block manager. Freehold companies, landlords, residents and leaseholders would surely be well advised to make a concentrated effort to seek properly qualified and governed managing agent firms. Less difficult said than done I actually hear you say?
The apparent decline in handling agent professional standards could most certainly be motivated, if not reversed, by clients refusing to make do with cheaper, low quality, property service providers. When using a new freehold agent, clients should be asking individuals to simplify the property services requirements they operate to. This is essential to ensure that the service levels offered will meet requirements and that this is finally borne in a formal service agreement. There are many codes of practice which were considered however the RICS has arguably led the way forward.
The newest RICS Service Charges Residential Managing Code was given the green light by Legislative house in 2009 with the essence setting out the specifications of the profession taking account of recent guidelines. If your block management agent falls short of this code, questions should be raised and any concerns investigated and cleared up. If any firm purporting to become competent residential freehold specialist does not abide with this RICS code, I would strongly declare that something may be amiss.
Looking now to the increasing legislation which applies to house services there have been some quite significant changes presented recently. New and specific block management and service charge regulation exists under the Commonhold and Leasehold Reform Act 2002. Modified health insurance and safety regulations have also been introduced to force which impact how the freeholds of pads of flats are cured. Landlords and managing providers must now provide work environment and fire risk checks for the freehold or landlord communal areas The effect of these changes should help improve service quality by looking into making block management agents more in charge of their actions,
As the new legislation takes effect the better qualified and experienced professionals should be well positioned to advise and guide clients through the new requirements. The latest RICS Code also needs to assist in weeding out those freehold block managers who cannot come up to the necessary standards.