This is a question many lessees consider when seeking ultimate control of their building and finances. However, there are several factors to think about:

Complexity…

For those in high-rise buildings, with complex legal or accounting setups, or for the many lessees affected by the numerous health and safety obligations now imposed on those responsible for a building’s management, self-management may not be the right choice.

What if Self-Management is Right?

If the demands of maintaining a building and its shared areas seem achievable—overseeing cleaning and gardening, organising straightforward day-to-day repairs, and managing without technically demanding equipment or building management systems—then what’s stopping you?

The Human Factor!

You might have a simple block and common grounds, where full management isn’t cost-effective, and as a group of lessees, you have the skills to manage the required areas. For example, there could be:

  • An accountant,
  • A lessee with a construction background,
  • A solicitor—each happy to take on duties suited to their expertise.

But who will:

  • Chase debtors and issue compliant bills or enforce a breach against a neighbour they might see every day?
  • Hold the money legally in proper client accounts, in trust, in line with the Landlord & Tenant Acts?
  • Ensure property records are accurate, matching the legal position at the Land Registry?
  • Provide a secure portal for accessing key documents about the running of the estate?
  • Act as Company Secretary, maintaining statutory records and carrying out legal checks?

So, What to Do?

Before embarking on a crusade to save your fellow lessees from the scourge of managing agents, take a breath and think…

As chairman or committee member of a self-management body, the buck stops with you. There’s no defence shield, no appointed company to handle vexatious residents or resolve complaints landing on your table from the same lessees who encouraged you to take on this responsibility.

Disputes will arise and will need to be managed. Being the head of a self-management body can be a lonely place at times.

A Compromise Option

Who Can Help?

Don’t let these challenges deter you—self-management can work! With the right support package, the role becomes much easier.

Managing agents offer various service levels, so it makes sense to do your research. Beyond full management, there are options for accounts-only or support services, where additional bolt-on options can be purchased as needed. These include:

  • Service charge billing
  • Service charge credit control
  • Lease compliance
  • Processing sales enquiry packs
  • Insurance placement options
  • Access to partner property professionals (e.g., building surveyors and engineers).

We’ve found that most leaseholder-run buildings struggle without service charge billing and credit control being handled by an objective third party. For many, a Management Support service is the ideal solution.

Reach Out

Ask questions and explore the options available to you.

Self-Management is for Us!

If you’re ready to try self-management or want to continue managing your building independently, JFM is here to support and guide you. With plenty of experience, backed by RICS accreditation and a culture that puts the customer at the heart of what we do—not to mention a few rather nice industry awards—we’re ready to help.

Drop us a line!

Click here to find out more and start your journey to successful self-management