The NOTB survey questioned 100 leasehold and freehold directors of resident management companies, with the aim of identifying those who benefit from the right the manage, as well as assessing and comparing the performance of managing agents. The survey was completed between December 2006 and January 2007. Two-thirds (67 per cent) of the questionnaires completed were from male respondents, while just under half (44 per cent) of all respondents were aged 65 or older. There were scarcely any leaseholders under the age of 25.
The survey found that 42 per cent of all respondents have lived in their address for over 20 years, while just one per cent said they had purchased their property in the last year and seven per cent in the last five years. The highest percentage (26) of respondents live in blocks of flats with under five units, while just eight per cent live in blocks between 51-100 units and only three per cent in blocks with 101-200 units.
The survey showed that many property owners had purchased the freehold of their properties and also benefited from right to manage (73 per cent). It also found that nearly half (45 per cent) reported no common problems in their blocks. Just under one-in-three (30 per cent) respondents said the condition of their block was “excellent”.
Of those who have not taken advantage of right to manage, 18.5 per cent said they would rate their managing agent as “excellent”, 37 per cent considered their agent to be “good”, while 18.5 per cent viewed their managing agent as “poor”. The most common problems were maintenance, sub-letting and noise.
Maintaining standardsFinally, respondents were asked to rate what they considered to be the most important factors in maintaining a high level of service. The vast majority (81 per cent) said property condition, followed by value of service charge (15 per cent). Other important factors included repairs and maintenance, keeping leaseholders informed of any developments and including leaseholders in the management of the building.
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