Managing Agents

Leasehold Property - FAQ

What is a Managing Agent?

Appointing a Managing Agent

 


What is a Managing Agent?

A managing agent is appointed by the Landlord to manage and maintain the building on behalf of the Landlord in accordance with the terms of the lease and current relevant legislation and Codes of Practice. The agent takes instruction from the Landlord not the tenants, but should be aware of the tenants’ wishes and requirements. They are not necessarily part of the Landlord’s organisation or company.

The agent will receive a fee which will usually be paid by tenants as part of the service charges. This may be based on a specified percentage of the service charges, but a fixed annual fee is becoming more common. Where major works are involved, the agent may charge an additional fee, which would normally be a percentage of the total cost of such works.

Back to top

 

Appointing a new Managing Agent

If the Landlord’s management is deficient, then tenants can apply to the LVT for the appointment of a new manager.

Back to top