Change of Managing Agent
FAQ'S
- Why is the managing agent changing?
The client has made the decision to change managing agents. Prime Property Management is no longer appointed to manage the development from the above date. - What happens to my service charge account?
We will fully reconcile your service charge account up to the handover date. We will then transfer any closing balances, credits, or arrears to the new managing agent. - Do I need to cancel my standing order?
Yes. Please cancel any standing orders or recurring payments to Prime Property Management from the handover date. The new managing agent will provide updated payment instructions. - Will my service charge amount change?
Any future service charge budgets or demands will be issued by the new managing agent. They will confirm whether there are any changes. - What happens to ongoing repairs or insurance?
We will hand over details of ongoing matters, including repairs, contracts, and insurance to the new managing agent to ensure continuity of management. - What if I have a query about a past charge or payment?
Please raise any historical queries with us as soon as you can, before the handover date. After handover, the new managing agent will have access to the relevant records. - Will my personal data be shared?
Yes. We will securely transfer leaseholder information to the new managing agent, in full compliance with data protection legislation, solely for the purpose of managing the development. - Who should I contact in an emergency after the handover date?
The new managing agent will provide updated emergency contact details. Until the handover is complete, existing emergency arrangements remain unchanged. - What happens to planned works or Section 20 consultations?
We will hand over any planned works or ongoing Section 20 consultations to the new managing agent, who will continue the process where applicable. - What happens to reserve or sinking fund balances?
We will transfer all reserve or sinking fund balances held for the development to the new managing agent as part of the handover process. - Who do I contact if I am buying or selling a property during the transition?
Up to the handover date, we will handle sales enquiries and management packs. After the handover, the new managing agent will be responsible for all relevant information and will assist with any buyer or seller enquiries.