How to Change Your Managing Agent
Changing managing agents is a significant decision for a residential development, but it does not have to be complicated. The first step is to understand what your current agreement requires and what you want a new managing agent to improve.
1. Review your current management arrangement
Check the managing agent agreement, notice provisions, termination clauses and any handover requirements. Gather recent service charge accounts, budgets, contractor information, compliance records and key correspondence.
2. Decide what you need from a new agent
Consider the services your development actually needs: day-to-day property management, service charge administration, maintenance, compliance, contractor management, meetings and resident communication.
3. Compare proposals carefully
Do not compare management fees alone. Ask what is included, what is charged separately, how maintenance is handled, how emergencies are dealt with and how frequently you will receive reports.
4. Plan the handover
Once a decision has been made, agree a timetable for transferring records, funds, keys, contracts, compliance information and resident details. A structured handover helps reduce disruption.
Questions to ask a prospective managing agent
- Who will manage the development day to day?
- How will residents contact the management team?
- How are service charges and accounts handled?
- How are repairs and contractors managed?
- How is compliance monitored?
If you are considering a change, DMS can discuss your development and explain how our residential property management service works.
General information: Property and leasehold matters can depend on the lease, legislation and the circumstances of the development. This article is not legal advice.