Managing Agent
An external property management company that will issue and chase up the service charges, supervise the annual budget and approve any additional works and requirements so that the development complies with current health and safety legislation and to ensure that the residents' needs are satisfied. They also manage the on site staff (i.e. the building manager and his team). They do this on behalf of the residents and the freeholder and they are only responsible for maintaining the communal areas and not the apartments themselves which are referred to in property management jargon as the "demised premises".
Read more about this topic: Building Management
Famous quotes containing the words managing and/or agent:
“There is not much less vexation in the government of a private family than in the managing of an entire state.”
—Michel de Montaigne (1533–1592)
“The agent never receipts his bill, puts his hat on and bows himself out. He stays around forever, not only for as long as you can write anything that anyone will buy, but as long as anyone will buy any portion of any right to anything that you ever did write. He just takes ten per cent of your life.”
—Raymond Chandler (1888–1959)