What is a Managing Agent?
NEGOTIATING THE VARIABLES
FINE PROPERTY MANAGEMENT has a vast list of options all available for you. Handing over responsibilities to a company can be a daunting process, but with our personalized services, outstanding agents, and top class customer care, you will see how seamless the process can be. We’ve got you covered, and we can’t wait to help you.
What is a Managing Agent?
In the case of residential developments, e.g. a blocks of flats, an individual investor or a property company may hold the freehold, or the owners of the individual flats may own it collectively.
In the case of leasehold properties the lease is a contract between the lessee, and the freeholder (often referred to as the lessor), under the terms of the lease the freeholder may be required to manage the property e.g. maintain the exterior and common areas, provide insurance etc.
A managing agent is a person or company appointed by the freeholder of a property, a leaseholder if the property or a management company, placed to manage that property.
The managing agent works with the freeholder, leaseholder or management company, to manage the property in accordance with the terms of the lease and statutory requirements.
The managing agent is only an agent of the above therefore legal responsibility for the full and proper management of the property remains with the freeholder, leaseholder or the management company.
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