Using Managing Agents to Effectively Manage Your Property

Managing agents are employed by the OMC’s (Owner’s Management Companies) in order to manage services and provide maintenance in the housing developments. The services that these agents typically offer include organising of waste collections, inspection and maintenance of common areas, collection of service charge from the residents, arranging for building insurance, arranging meetings with the OMC and the residents, and responding to the queries made by the owners. The cost of employing these agents is met by the residents which is included in the service charges they pay annually.

Who manages your building?

The cost of employing agents depends on the firm; however the quality and range of the services offered can vary enormously. So before you are looking in a multi-unit development to buy a home, it is advisable to first find it out that the OMC and/or the developer have appointed good quality managing agents.

Changing agents

These agents are generally appointed by the OMC or developers, and the appointment is made mostly before the sale of first unit. The developer needs to notify all the buyers regarding the appointment of the managing agent, he should outline the services to be offered, and explain the procedure for managing agent in order to deal with any requests or complaints made by the owners. However, if the owners and residents are not happy with the service that the managing agents are providing, there is scope for new agents to be employed, who may be better able to meet the needs of the residents and the building.

Contractual obligations

After an OMC is established, an agent is appointed by it and a written contract is signed. The contract outlines the procedure that tells the managing agents how they are supposed to deal with the complaints of the customers. And if the owner is unhappy with the performance of the agents then the issue should be raised with the respective OMC. If the owners and residents are unhappy with the situation, then there are set procedures to follow to try and force improvements or if need be replace the managing agents. It makes more sense to find reputable managing agents who will work with the OMC to manage and maintain the building appropriately.