Management of leasehold
properties

We are proud to have attained several industry accreditations which help us ensure that our service is the best it can possibly be. We are members of both ARMA and ARLA Propertymark which means we meet higher industry standards than the law demands and strictly adhere to their regulations, ensuring that we only provide a first-class service and offer you the best possible advice.

Many of our clients are members of a limited company that owns the freehold or is responsible for the maintenance of their property. They are often elected officials (directors) of the company who take on the role of interfacing with the Managing Agent to guide decisions that are made, in the best interest of the company and its members.

We recognise that this can be a thankless task and on occasion be very demanding and time consuming. We work to try and alleviate that burden and can adopt as many (or few) tasks and responsibilities required, whilst always working with the client to form an efficient management team.

We recognise that any relationship is dependent on good communication, and we have adopted a slightly unique approach to ensure that this remains a priority. With the trend of hybrid working becoming more acceptable, it is essential that clients can contact us wherever they/we are based.

With this in mind, all calls to our office are taken by an answering service which means that whatever the time, day or night you will be able to speak to a person to discuss your concerns. If your call is a routine enquiry, then the message will be passed to our team who will respond at the next opportunity. If your call relates to an urgent issue an urgent message is sent to a member of staff (on app and by text) to trigger an urgent response.

In the event of a genuine emergency the call is diverted to a member of staff immediately.

Once you have acquired the Right To Manage you may want to engage a Managing Agent (MA) to support the management of the property. The attached link provides some guidance on what services you can expect from a managing agent, but you should always research the agents in your area to determine most appropriate company to assist.

You should establish what services you will require from the Managing Agent, obtain a quote, and determine the fees involved, negotiate a contract, and define the expectations, roles & responsibilities. For a Managing Agent to function efficiently and provide the best value, clear & concise communication is required and a single point of contact is preferred.

Mallorie Estates can provide guidance on the RTM process for existing clients and management services for established or upcoming RTM companies.

A major function of a Managing Agent is bookkeeping and the management of the finances. It is our opinion that this should be done in an efficient and transparent manner with records kept up to date and any/all bills for suppliers paid promptly.

All our financial information is recorded using Quickbooks® online software and reconciled regularly to ensure accurate information is always available. Periodic statements can be provided for clients and a current P&L or Balance Sheet is available on request.

The treatment of supplier’s bills is also a key component of financial management and can influence the clients relationship with regular trades such as cleaners, gardeners (etc) who are often small companies or sole traders that rely on prompt payment.

Security of funds held on account is also a priority. We recognise that the funds we hold on account are held ‘in trust’ on behalf of the lessees and that they do not belong to us nor the client. All funds are held in a dedicated client account, set up exclusively for each development and are never contaminated or come into contact with our or any other client funds.

A growing part of a Managing Agents scope of responsibility is providing advice & guidance on a client’s compliance with legislation. Since the tragic events of the Grenfell Tower in 2017 there has been a cascade of legislative changes to areas such as fire safety including responsibility and expectations. We work alongside professionals in the industry to deliver the latest advice to clients and work alongside them to implement changes and ensure not only compliance on paper but to deliver the safest possible environment for everyone.