Employing a managing agent isn’t for everyone.

RMCs and RTMs are already, largely, in control of their own destiny yet they default to appointing a managing agent as they don’t feel they have the required property management expertise and don’t have the time to run their buildings.

Before you do consider self-management, perhaps you simply haven’t found the right managing agent [embedded link to Find me a Managing Agent section]for you. Explore that first – speak to us to see if we can help there. 

For those willing to learn and if they have time on their side, going ‘agent free’ could be the best thing for your building.

So what are the advantages of self-management?

• No more management fees

• You no longer need to rely on a third party to get things done. The buck stops with your and your committee.

• You overcome problems associated with managing agents having a high turnover of staff

• You can make and action decisions faster

• Self-management typically encourages other leaseholders to contribute to the running of your community

• You will get to know your suppliers very well, and that will help develop closer and more effective working relationships

• You always have the option of outsourcing individual items of work to a property professional

Be aware of the potential downsides of self-management too

• You only have yourselves to blame if it goes wrong!

• You’re unlikely to accrue the knowledge, experience and expertise that a managing agent has amassed over the years

• When it comes to disputes, you won’t have a managing agent to mediate

• Simply matters such as late payment of service charges, can become awkward given you may be neighbours

Managing your own block can be fulfilling and worthwhile, if done properly. The elected directors of your RMC or RTM would do well to have the backing of the shareholders or members, all of whom have signed up to a simple code of conduct, that reiterates the terms of the lease and contains the right sentiments about communal living. 

Self-management mustn’t be viewed as an opportunity to ‘break the rules’ as the consequences of rejecting best practice, the terms of your lease and the law itself could have seriously implications for the protection of your service charge funds or the safety of residents and visitors to your building.

If you have the appetite, we have the ingredients for the successful running of a block of flats, agent free.