London, MJ Direct, Birmingham’s City Centre flats Recently as part of my resident directorship of Liberty Place I & my fellow directors have been interviewing prospective new managing agents for the block ,which comprises some 250 apartments & eight commercial units. The current agent’s contract is ending and the consensus was to relook at the agent’s in-situ contract ,agreed before the current resident board was appointed ,and to look outside to see at what other agents are doing in similar blocks around the City & see what they might bring in should they be instructed.
Amongst the many interesting facts revealed by the various agents one sprung out. The agent in question is the director of a leading established Birmingham based firm of Surveyors. He revealed that they as a company factor in that one in twenty four apartment owners will be a nightmare which they will have to accommodate. For Liberty Place it means they are factoring in that over ten residents will consume far more management time than the other 240. That their staff have to build in that one in twenty four owners will have many more issues regarding their accommodation & the block they reside in than the rest of the block occupants. For larger blocks this extra hassle factor clearly has to be factored in. Some claims will be legitimate but many it seems will be frivolous. They as professionals took it in their stride because it was part & parcel of the job. For me though it was interesting that they even had a measure!
Does this 1/24th rule apply across the country to individual streets & neighbourhoods? Do you know the one in twenty fours in your area? Clearly having now spoken to several friends & colleagues we all think we know who they are talking about. Indeed are you one of the ones who raise their head more often & more vocally to authority than your friends & acquaintances? Do you seem to notice more things going wrong than your friends? Does your Council or block managing agent know you by name when you call…………..mmm if they do it might be that you are the one in twenty four!!!