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What is a managing agent?

Sometimes the landlord or the residents' management company carries out the management of the property directly. Alternatively, a managing agent may be appointed to manage and maintain the building on behalf of the landlord, in accordance with the terms of the lease, current relevant legislation and codes of practice.

The agent takes instruction from the landlord, not the leaseholders, but should be aware of the leaseholders' wishes and requirements. The agent will receive a fee for day to day management which will usually be paid by leaseholders as part of the service charges. It is good and common practice for it to be a fixed fee per annum. Where major works are involved, the agent may charge an additional fee, which will normally be a percentage of the total cost of such works.

High Peak Borough Council do not currently use managing agents and manage all their properties themselves.