© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
© 2025 News On The Block. All rights reserved.
News on the Block is a trading name of Premier Property Media Ltd.
Auditioning for a replacement managing agent can feel like a time-consuming gamble, and it’s not a process you want to keep repeating. With numerous managing agents to choose from, how do you differentiate between the many hopefuls and make sure you find the one who is exactly right?
The standard procedure is to find companies which are members of the Association of Residential Managing Agents (ARMA) or the Royal Institution of Chartered Surveyors (RICS), invite a selection of firms to tender, listen to their presentations, often referred to as a “Beauty Parade” and make your decision from there.
However, mismatched expectations and assumptions can quickly derail any partnership, so it pays to really consider your building’s needs and the style of management you require. What do you hope to gain by changing?
Consider which level of experience will suffice. Simple properties may find that a keen junior, provided they are well-mentored and well-supported, could be a cost-effective solution. A complex building needs longevity and a more experienced manager to resolve their issues.
You get what you pay for; if a firm charges more than competitors, how do they justify it? Don’t let price be the final arbiter; quality of service, support, financial security and location are important criteria.
Refining your list of likely candidates is essential. So much of a managing agent’s business is gleaned by word of mouth and reputation is all. Ask everyone you know in “Apartment World”, particularly property lawyers. A managing agent’s website is their store front. What does it reveal about how their business is organised?
Nothing replaces personal contact, phone them or visit their office, you can gauge a lot about their management style. Good firms insist on a building walk round before they submit tenders.
ARMA produces a leaflet called “Appointing a Managing Agent” with a list of questions, but be aware that most agents have honed their responses. Challenge them, dig deeper and get them to expand on these. Alternatively it might be more illuminating not to give any criteria, but put the onus on them to prepare their own tender and see what they come up with.
Presentations are often delivered by the Business Development Director. It’s useful to direct company questions to them, but don’t allow them to dominate. Your intended property manager should be there too and you can get an idea of how they would respond to your building’s issues.
Ultimately, you’re looking for someone who meets your professional criteria, but in dealing with people’s homes, it’s also important on a personal level that they are someone you would actually like to work with.
Patrick Flynn MIRPM is a Director of Preside