So what, precisely do you do?
I am told the question “What do you do?” Is a favourite of HM the Queen at Buckingham Palace garden parties and I hope one day to find out. Until then, it is a fair question for our customers to ask.
For our leaseholders the answer is simple. “We aim to provide you with a hassle free service so you can enjoy living in your flat”. To do this we try our best to match the services a block needs with the expectations of the owners. For our freeholders, the short answer is “we aim to save you the headaches involved with managing a block of flats”. In order to achieve this, a managing agent must understand the bewildering plethora of laws and regulations which, once understood can save time, money and potentially disastrous litigation.
There are over 40 Acts of Parliament listed in the RICS Code of Practice and we must have a working knowledge of them all. We have taken over a block where the service charges were not legally payable, all because a basic requirement of the law had not been complied with by the former agent that drafted the invoices. We are not solicitors, so we also have a network of law experts on call should we be unsure of a legal issue that needs addressing.
As a Managing Agent we are not allowed to give tax advice but as with the law, we have accredited, insured experts who can. Overall our objective is to remove headaches by providing and excellent service for both lessor and lessee. In order to do this a Managing Agent is a bit like an iceberg without the Polar bears. Four fifths of what we do goes unseen by the visitor to our offices. We rely on our established network of partners in law, taxation and financial services.
That is the answer to the question “So, what do you do?” Hopefully in time, our work will come to the attention of the right people and I will find myself in the garden of Buckingham Palace being asked the question by HM, whereupon my mind will go blank and I shall be reduced to a mumbling wreck. Which hopefully will amuse the Queen a bit more than the real answer.