We have recently changed “managing” agents.
But do we really need “managing” agents?

QUESTIONS
Which Director decided to invite the three particular companies to tender?
How many other companies were considered before tenders were invited?

Why did directors promote HML Guthrie?

SUGGESTION

For many years we have been paying for the privilege of being treated like DHSS tenants in an inner city tenement block by “managing” agents who justify their fees by awarding impressive but meaningless titles like “Property Manager” to almost anybody they employ.

One of the very few reasons that might possibly justify the cost of employing “managing” agents could be to obtain professional advice about property law and legislation for our amateur directors but some of the so called “property managers” we have had were not only unqualified but also so deficient in basic literacy skills that they could not manage to construct a simple sentence let alone write, read or understand a legal document. Some examples of their amusing attempts at letter writing will soon be published as funnies
So why do we employ them?

We have a wealth of professional talent living here - many - probably all - are far better qualified and much more capable than the people we pay - so why do we not manage our own property PROPERLY ourselves? (It is not difficult to do).

The KGMC is a small company with only a handful of suppliers - only 52 customers all living in close proximity - and only one price - the “service” charge.

Accounting for expenses and collection of service charges is so simple that it could be done by almost anybody and the money could go into our own bank account. Amazingly the KGMC does not have a bank account so we entrust £78,000 per annum to others who manage to get our finances into a mess.

For statutory annual returns we can employ accountants at very little cost.

For legal advice we have at least one solicitor - or we could employ one when needed.

We have many residents with useful qualifications, expertise and abilities, some would probably be happy to assist in the proper running of what is, albeit communally, THEIR OWN property.

We could then make better use of the money we have been wasting (About one hundred thousand pounds to date).

“Management”  fees have already consumed about 10% of the total KGMC budget - only gardening and insurance have cost more.

THE MONEY WE SAVE COULD BE SPENT IN MANY USEFUL WAYS - HERE IS JUST ONE EXAMPLE.
The roofs of many blocks are past their best and will need to be replaced before long.
The roofs are not currently the responsibility of the KGMC but the responsibility of individual owners.
Many roofs cover more than one dwelling so “who pays for what” will become a problem and even if the affected owners overcome that problem and replace “their” area of roof they will not replace the roof of a whole block so the block roofs will look like patchwork quilts. Kingsley Green will begin to look like a dilapidated ghetto and property values will plummet.

FORWARD PLANNING.
The money we save cut be put into a sinking fund so that in time - possibly several years - we can afford to replace the complete roof of one block at a time which will be much more cost effective and produce far superior results to roofs becoming more dilapidated, or being “patched up” or replaced in stages by individual owners.

PROBLEM
There may be some residents who say “but that won’t benefit me because I will have moved before it happens”  but they are wrong.
IT WILL benefit anybody who is selling their residence because a potential buyer can be assured that there is already provision for what will otherwise become a future - and very costly - nightmare.

Please email your comments to:- info@kingsleygreen.co.uk