What is a managing agent?
On some of our estates and blocks, we do not own the freehold title to the building or estate. In these cases, there will be a third-party managing agent, who is employed by the freeholder to run and manage the building and services. Their role and responsibilities may vary depending on the freeholders needs and the type of property.
It is possible for a managing agent to be a formal residents group, but if this is not the case, then there will be an organisation employed to undertake the freeholder’s obligations. These will typically include the repair and maintenance of the estate or building, the collecting of service charge and ground rent, ensuring compliance with health, safety and fire regulations, as well as insuring any blocks. Their duties will always reflect the obligations of the organisation or person that employed them – usually the freeholder.
What are third party managing agent costs?
As the freeholder of the estate employs this managing agent, they also charge Housing Solutions for the services provided. We then recharge these costs to homeowners, as per the terms of the lease and head lease agreements in place. We will collect service charges from leaseholders in accordance with the terms of their lease and then make payment to the managing agent. The service charges will include management fees which are payable to the managing agent.
Who can I contact about third-party managing agents?
You can contact the Homeownership Team at: firstname.lastname@example.org ,if you would like us to query any charges or services, or put you in direct contact with the managing agent for your building.