Managing agents play a crucial role in the smooth operation of apartment blocks. They handle various tasks, from maintenance to financial management, ensuring that the property runs efficiently. However, there may come a time when you feel the need to change your managing agent or block manager. Whether it’s due to poor communication, subpar service, or simply a desire for a fresh perspective, navigating this transition can seem a daunting process.

According to the Association of Residential Management Agents (ARMA), the UK has 8,700 residential managing agents out of 22,650 firms.

In this comprehensive guide, we’ll explore ten tips to help you effectively change managing agents and streamline the process for your apartment block.

When Should You Change Managing Agents or Property Management Company?

Deciding to change managing agents or property management companies is a significant step that requires careful consideration. While some issues may be resolved through communication and collaboration, there are certain situations where changing managing agents becomes necessary. Here are some key indicators that it may be time to consider a change:

  • Poor communication
  • Subpar service
  • Financial irregularities
  • Breach of contract
  • Lack of expertise
  • Resident dissatisfaction

10 Tips on How to Change Managing Agent

By recognising the signs indicating the need for a change and taking proactive steps to address them, apartment block owners can ensure that their property is managed effectively and in the best interests of all stakeholders involved. Here are some expert tips when you feel it’s time to change managing agents.

1. Assess Your Current Situation

Before diving into the process of changing managing agents, take some time to evaluate your current situation. Identify the reasons why you’re considering a change and assess any issues you’ve encountered with your existing managing agent. Poor communication, inadequate maintenance, or financial discrepancies could be key factors driving this decision.

2. Research New Managing Agents

Once you’ve pinpointed the reasons for wanting to change managing agents, it’s essential to conduct thorough research to find potential candidates. Look for reputable block managers with experience in managing apartment blocks similar to yours. Consider factors such as their track record, client testimonials, and range of services offered such as maintenance, health and safety, support services and insurance claims.

3. Review Your Management Contract

Before proceeding with any changes, review your existing management agreement carefully. Pay close attention to clauses related to termination and transition procedures. Understanding the terms of your contract will help you navigate the process smoothly and avoid any potential legal complications.

4. Communicate with Leaseholders

Changing managing agents is a decision that affects all the leaseholders within the apartment block. It’s crucial to communicate openly and transparently with all stakeholders throughout the process. Hold meetings or send out newsletters to inform residents about the reasons for the change and involve them in the decision-making process where appropriate.

5. Obtain Management Control

In some cases, obtaining management control from your current managing agent or forming an RTM company may be necessary before transitioning to a new one. This process can vary depending on your specific circumstances and the terms of your management agreement. Seek legal advice if needed to ensure a smooth transfer of responsibilities.

Scanlans can advise on the Right To Manage company formation process or act as a managing agent for the management of your Residential Block.

6. Establish a Transition Plan

Once you’ve selected a new managing agent and obtained management control, it’s time to establish a transition plan. Work closely with the new agent to outline timelines, responsibilities, and key milestones for the transition process. Clear communication and collaboration are essential to ensure a seamless handover of management duties.

7. Notify Your Existing Managing Agent

Before officially parting ways with your existing managing agent, notify them of your decision to change. Provide written notice in accordance with the terms of your management agreement and outline the steps involved in the transition process. Maintain professionalism and diplomacy in all communications to minimise any potential conflicts.

8. Facilitate Transfer of Information

During the transition period, facilitate the transfer of essential information and documents from your existing managing agent to the new one. This may include financial records, maintenance schedules, resident contact details, and any relevant contracts or agreements. Organise meetings or conference calls to ensure a comprehensive handover of information.

9. Monitor Performance

Once the new managing agent is in place, monitor their performance closely in the initial stages. Keep lines of communication open and address any issues or concerns promptly. Regularly review service delivery and ensure that the new agent is meeting the expectations outlined in the management agreement.

10. Foster Positive Relationships

Building a positive relationship with your new managing agent is key to the long-term success of your apartment block. Foster open communication, provide constructive feedback, and work collaboratively to address any challenges that may arise. A strong partnership between the management company and the resident management company is essential for the effective management of the property.

Looking for Expert Block Property Management for Your Building?

Changing managing agents can be a complex process, but with careful planning and effective communication, it can be navigated successfully. By following these these tips, apartment block owners can streamline the transition process and ensure that their property continues to thrive under the guidance of a new managing agent.

All of a property manager’s duties are covered by the complete block management services provided by Scanlans Property Management. We have a group of capable and knowledgeable employees who are always accessible to address concerns or questions from tenants.

Our block management services cover everything from insurance and claims to repairs and maintenance, building surveying services, site visits, and more.

For more information about our services, or to get a quote, contact us today.

How to Change Managing Agents FAQs

What should I look for when selecting a new managing agent?

When choosing a new managing agent, consider factors such as their experience, track record, range of services offered, and compatibility with your property’s needs and objectives. Seek recommendations, conduct thorough research, and interview potential candidates to ensure they align with your requirements.

Can I change managing agents if I’m part of a resident management company (RMC)?

Yes, as a member of a resident management company (RMC), you have the authority to change managing agents if it’s in the best interests of the company and its members. However, it’s essential to follow the procedures outlined in your company’s articles of association and any relevant legal requirements governing such changes.

How long does it typically take to change managing agents?

The duration of the transition process can vary depending on factors such as the terms of your management agreement, the complexity of the handover, and the responsiveness of the parties involved. Generally, it’s advisable to allow sufficient time for a smooth transition, which may range from a few weeks to several months.