• This Guidance Note looks at the usual issues that arise for managing agents on new developments.
  • It is essential that the developers of new schemes involve a managing agent at as early a stage as possible so that long-term sustainable management arrangements can be set up.
  • Managing agents can assist developers to draft leases, decide on how service charges should be scheduled and apportioned on complex schemescomment  on design to reduce capital and service charge costs, and recommend what long term governance arrangements make most sense.

Covering Topics

  • Overview
  • Void Service Charges
  • Management Agency Agreements
  • Lease Clauses
  • Apportionments of Service Charges
  • Audit/Certification of Service Charge Accounts
  • Assignment Restrictions
  • Administration Charges
  • Improvements
  • Insurance
  • RMCs
  • Variation of Services
  • Financial Year End
  • Cost Of FTT Proceedings
  • Cost of Chasing Arrears
  • Two- and Three-Party Leases
  • Phasing
  • Formation of Management Companies
  • Handover of Management Companies to Leaseholders
  • Snagging of Individual Units
  • Snagging of Common Areas
  • Long Term Agreements
  • Leasing of Equipment
  • Budgets for Service Charges
  • Reserve Funds
  • Further Information

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