Cooperation is key

For example, there may be a need for multiple service charge schedules to ensure the development runs efficiently and fairly, or there may be multiple types of tenure - who better to provide advices on how these should be set up and implemented than those who regularly deal with such matters? Perhaps a developer wants advice on avoiding inconsistencies or difficulties in the wording of new leases - the right managing agent will be very familiar with the wording of leases and ownership documents and will be able to provide insight.

There are benefits that a good level of cooperation between developer, managing agent and other professionals can bring to a new development. By utilising the managing agent’s branding within sales or advertising material, a developer can demonstrate their dedication to the proper running and maintenance of the development far beyond the build completion date. This is especially so where the managing agent has had direct input into the production of key items of information, such as budgets, schedules, long-term planning.

In this way a developer can add a clearly identifiable value to the development which potential buyers will find reassurance in. No longer does the managing agent suddenly appear when the building is completed and people have moved in, along with a hasty handover from the developer. Instead the developer can demonstrate from day one, by way of advertising services of a professional managing agent who has been included throughout the process, that the operation of the development is in good hands going forward. This is welcome news for any purchaser, whether investors or owner-occupiers.

So by taking the initiative to bring on board a professional managing agent from the beginning, a developer can help foster a highly positive situation for all - their sales process can be augmented, the managing agent can assist with and cultivate an in-depth knowledge of the workings of the development from the outset, and above all the flat owners can be assured that their homes are in good hands.