When you are searching for a managing agent to look after your commercial property, you want to be reassured that not only will they deliver a good service, they will provide you with pro-active advice, keep costs low and understand your key requirements.
We’ve put together some top tips on what to consider when choosing your managing agent…
- Code of practice and regulations.
It’s important to check if the managing agent is a member of the RICS (Royal Institute of Chartered Surveyors) and therefore should be performing under the codes of practice set out by them. For example, all members are checked on the way they hold monies collected on behalf of their clients. They are also required to have a complaint handling procedure and access to an independent ombudsman service.
- Insurances
Check insurance of your new agent – are they covered? It’s important to note that the RICS requires all members to have professional indemnity insurance as well as fidelity insurance. If your agent is not a member of the RICS, bear this in mind to ensure you are not left open to future difficulties.
- What is included in the service?
When setting out the agreement, ask your agent what level of service is covered. For example, are they acting as a facility manager, or will they be able to provide advice on landlord and tenant issues and rent review. Before signing the dotted line, make sure you know what service level you are signing up to.
- References / testimonials from other clients
Don’t feel embarrassed to ask for references. If the agent is reputable and trustworthy, they will be happy to give your client details for you to talk to before using them.
- Proven track record
Whilst you may have done references, consider if they have managed similar properties? Do they understand what’s needed to make sure yours is efficient and can they give you extra insight and proactive advice?
If you are thinking of changing managing agents for your commercial property, or recently developed a new office block, give us a call and see if we can help you. Call us now on 020 8429 9000
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