Just a few important questions that you ask the management agents in docklands would clearly make you understand the difference between one management company and the other. What is surprising is that even the most seasoned of property owners fail to ask this important question when trying to hire a management agent. Let’s look at few of those important questions which would ensure you the best deal.
Does the management agent receive sales commissions on the insurance premiums?
Generally the agents receive a sales commission on the insurance premiums that they manage for flats under them. The lease holder typically has no say in that. Thus the chances are that the broker may look after his personal interest over the lease holders and may opt for that brand which offers him the largest chunk of commission. This may mean a much higher premium for the leaseholder than required with much less benefits. Try opting for that agent who facilitates the leaseholder to decide on the insurance company and possibly zero to nominal commissions.
Who decides on the contractors to work on your blocks?
Like insurance, several contractors also pay these agents a commission to get the work to do on the property under the agent. Thus agents again give in to their greed. Sometimes, these agents also sub-contract to companies known to them. You can even find the whole gang operating from the same room. This must be strictly avoided and leaseholders must ensure that they have complete freedom to select the contractor based on the competitiveness of the quote and quality of service provided instead of the commission.How many additional charges would be levied?
Another way in which these agents try getting an income for themselves is through a charge of so called 'disbursements' and admin fees. Its best to ask pointed questions before hiring them and understand their charges for such routine admin and management work. A good agent would not have such charges as these are included in his fees since these actually are a part of his duty.
A little investigation would help you find an authentic agent and save much of your hassles.