Managing Agents Given Notice
Other

elbowe
elbowe
1,662 Thanks
5,237 Posts
12 years ago
0
Hi All,

I have been a landlord to 9 properties in two blocks for 20 years, in addition I have run the Leasholders company (repairs, checking accounts, organising in general any issues on the floor etc) for 15 years. Up until now we paid the Freeholder 15% of the yearly service charge (15% of 38K) a year to do the accounts, send out requests for payments, chase nonpayers, do the admin, insurance and field issue calls etc etc - most issues calls where forwarded to me anyway. everything you would expect from the official side of the management of the buildings was inlcuded in the 15%. Due to the age of the guy who runs it (freeholder) he has given us notice (6 months which is fair).

How would suggest we proceed to obtain a new managing agent for us? is 15% the going rate?

Any opinions would be appreciated. Maybe I can employ my own admin person? or would advise against this?

thanks
Leslie

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £75 you can join in the discussion and get access to member's only resources and services join now.