What Does a Managing Agent Do?

A managing agent is responsible for helping a residential development operate effectively. The exact responsibilities depend on the management agreement, the leases and the needs of the development.

Day-to-day management

This can include resident communication, arranging inspections, coordinating contractors, dealing with communal issues and keeping management records up to date.

Service charges and accounts

A managing agent may prepare service charge budgets, issue demands, monitor expenditure, reconcile accounts and provide financial information to the client.

Repairs and maintenance

Managing agents commonly arrange routine and reactive repairs, obtain quotations where appropriate, manage contractors and keep clients informed about works.

Compliance

Depending on the development and its responsibilities, management can involve coordinating inspections, certificates, risk assessments and other compliance requirements.

Communication and reporting

A good management arrangement should give the client clear information about expenditure, works, outstanding issues and important decisions.

The scope of a managing agent’s role should always be clear in the management agreement. DMS provides residential block and property management for freeholders, RMCs, developers and leaseholders.

General information: Property and leasehold matters can depend on the lease, legislation and the circumstances of the development. This article is not legal advice.