A guide for directors
Switching managing agent
If communication has broken down or the accounts never add up, changing agent is usually simpler and lower risk than boards expect. This is how it works.
When boards decide to change
If these keep happening after you have raised them, a new agent is likely to be in the building’s interest.
- Slow or inconsistent replies
- No clear picture of how the service charge is spent
- Repairs that take months or never finish
- Contractors nobody checks
- Accounts that arrive late or not at all
- Fire safety or compliance issues left open
- High fees for the service you actually get
The steps
We run the handover from step five onwards. You will not have to chase the outgoing agent yourselves.
Check your current agreement
Find the notice period, any termination conditions and what services it covers. Most agreements need one to three months’ notice.
Get proposals
Compare managing agents on fees, what is included, experience with similar buildings, and how they report to directors.
Appoint the new agent
The board approves the appointment, by a board resolution or in writing, and agrees the management contract. The start date usually matches the end of the notice period.
Serve notice
Give the current agent written notice under the agreement. The outgoing agent is normally required to cooperate with the handover.
Handover
We request the accounts, contracts, safety records and building information from the outgoing agent, set up client accounts and review the contractors.
First weeks
Residents are told how to contact us and report repairs, we inspect the building, and the directors get a summary of priorities.
Questions directors ask
What happens to the service charge money?
It belongs to the building, not the agent. At handover the balance is reconciled and transferred into a client account in the building’s name. With us, that money is protected by the UKALA Total Loss Client Money Protection scheme.
Will residents notice?
Very little, apart from getting answers. We write to every resident before the start date with our contact details and how to report a repair. Cleaning, maintenance and safety services carry on throughout.
How long does it take?
Usually one to three months from the decision to the start date, depending on your current agent’s notice period.
Who has to agree?
For an RTM or resident management company, the directors appoint the managing agent. Record the decision at a board meeting or by written resolution.
What if the outgoing agent is slow to hand over?
It happens. We send a structured request for records on day one, chase it on a fixed timetable and keep the directors informed. Where records are missing, we rebuild them, starting with safety documents.
Do we have to change our contractors?
No. We review existing contracts and keep what works. Any change is discussed with the directors before it is made.
Considering a change?
We are happy to have an informal conversation with the board, or to send a written proposal.