Managing Agent

Sometimes the landlord or the residents' management company carries out the management of the property direct; 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 managing agent takes instruction from the landlord, not the leaseholders, but should constantly be aware of the leaseholders' wishes and requirements. The agent will receive a fee which will usually be paid by leaseholders as part of the service charges.
This may be based on a specified percentage of the day-to-day service charges, but good and common practice is 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.