Does your residential managing agent really look after your money?

One of the biggest challenges our clients often face is money. Which is why for us, it’s vital to make sure that our clients are kept up to date with budgets and expenditure. If your agent isn’t being transparent, maybe there needs to be questions raised?

When you live within a block of flats, you want to make sure that the communal areas are looked after and your property is maintained regularly. You also want to know how much it is going to cost and what expenditure may be planned for the future.

At times, there are always going to be circumstances whereby residents might need to top up the maintenance fees to pay for a one-off project, but for most, there should be a clear fee each month that is needed for managing the block.

There should also be transparency in what money is being spent on and regular reports.

Unfortunately, there are some managing agents who don’t always have their clients interests to heart, and may be a little lazy at getting the best quotes for their maintenance contracts. This means – you could be spending more money than you have to! Have you ever looked at the breakdown of what your monthly charges are spent on? Do you have access to them at all?

At David Charles, we always ensure that costs are transparent. For block management, we regularly check contracts with our trades people and ensure that the best value is being passed onto our clients. We do this because we know that our clients stay with us because they trust us.

If you think that you are paying too much for your maintenance fees, why not give us a call? We would be happy to offer our advice and let you know if we feel the price is too high! In the meantime, don’t be scared to ask your managing agent how your money is spent – you are entitled to see, and make sure you are spending wisely!

Image courtesy of Rawich /