PROPERTY MATTERS COMMENT

A new approach to residential property management

There has been a huge shift in the nature of this business in recent years. It used to be that managing agents worked almost exclusively to a Landlord's instructions. The residents' wishes and opinions were often left out of the equation. When the laws regarding Leaseholders' rights changed in 1993, leaseholders - who are often the people actually living in the property - got the chance to have a much bigger say in running their property.

That was a momentous change. But I could see that many managing agents failed to evolve with that change. They didn't seem to have taken in the fact that their customer base had changed. Or that they had better change their attitudes to estate management as well.

The time of being high-handed with residents has passed. They pay the service charges and they should expect certain things: not least an agent that will listen to them and work with them

Spencer Lewis will be more attentive, more understanding and more responsive. We will explain in greater detail about how things should happen, so they have a full understanding, rather than losing them in a lot of mumbo jumbo and technical terms that there's no reason they should understand. Quite simply, we want to give the residents good solid advice

It's the way the residents run the building rather than a landlord who tells us what do and then we relate all this information to the residents management company. We're working directly for the people who pay us.

We're not only taking care of people's homes, but their investment too. It's not just about fire-fighting this week's blocked drain. A good managing agent will look to protect the future value of your property. Not just for this year, or the next six or seven years, but to plan with perhaps 20, 30 or even 40 years ahead in mind.

Running a limited company brings legally binding obligations. And a good managing agent will also have the experience to offer them advice and sometimes guide them through those responsibilities. There are issues of planning permissions, dealing with local authorities, Health and Safety, employment, insurances and submitting audited accounts. Your property manager should have up-to-date knowledge of the relevant legislation.

Most importantly, you should know your property manager. You should know that he visits your property regularly and you should expect regular feedback from him. Use his experience. You should be able to regard him as a trusted friend with professional expertise. After all, that's what you're paying for, isn't it?