Dangers of an unregulated agent!

With the start of spring and better weather, we are continuing to welcome new blocks of flats to our residential leasehold management portfolio. With our Head of Property Management receiving 2 handovers in the last week, we have been busy reviewing the files and identifying any gaps which need to be filled.

We were particularly concerned to find that one property, which has come from an unregulated agent with no IRPM members employed, was severely lacking in regulatory information and compliance.  The fire risk assessment was 5 years old with none of the recommendations actioned, no electrical testing had been carried out at the property and the asbestos survey, which identified a number of areas requiring regular monitoring, was 18 months out of date.

The accounts gave very little clarity over the monies which were held in the service charge, with service charge being mixed in with company monies and assets.

Not only were the Clients paying an extremely high management fee, they were receiving no service for this with complaints of e-mails being unattended to and a lack of any transparency or detail provided to them.

At SPL Property Management, our sole business is residential leasehold management. Our staff are well-trained with plenty of CPD hours under their belts and those directly involved with management are IRPM qualified, or working towards these qualifications. We are members of the Association of Residential Managing Agents and compliant with their industry standards. With this knowledge and experience, we are able to identify issues quickly, advise our Clients, and work to reach an outcome which ensures their interests are protected.

As a freeholder, with a personal liability at stake, it is important that you have an agent in place who will protect your position and reduce any possibility of a claim being brought against you. Contact our residential leasehold management team today to discuss how we may be able to help you.