3 We're in the top 20% of ARMA regulated managing agents.

We're in the top 20% of ARMA regulated managing agents

The residential leasehold sector is largely unregulated which means that anyone can operate as a managing agent, collecting service charges without any relevant qualifications or experience.

However, Block Management UK Ltd is a member of The Association of Residential Managing Agents (ARMA) who are the leading trade association for residential leasehold management companies in England and Wales. Block Management UK Ltd is an accredited member and as such abides by the ARMA Consumer Charter & Standards. The Standards cover the conduct of the agent with regards to all areas of block management. From financial matters such as service charge collection, end of year charge accounts and reserve funds to handovers, repairs and even staff employment.

Membership of ARMA is voluntary and demonstrates our commitment to outstanding customer service and to abiding by the best regulatory framework available. Based on number of units managed, we are in the top 20% of ARMA members.

Managing agents large and small join ARMA however, of the estimated 870 residential managing agent firms in England and Wales, just 300 are members of ARMA. That means around 1.23 million residential units are managed by non-ARMA firms.

The Ministry for Housing, Communities and Local Government (MHCLG) Housing Statistical estimated that in 2016-17 there were 2.86 million leasehold flats. In 2014 the Competition and Markets Authority (CMA) estimated that service charges averaged £1,100 per unit and could total between £2.4 and £3.5 billion per year. * The sector is too big to avoid regulation in the future. If you are an RMC Director, leaseholder or freeholder looking for a managing agent, please note that legislation will eventually come whereby all managing agents will have to abide by standard good practises.

*Figures taken from ARMA publication “An Overview of the Residential Block Property Management Sector in England and Wales” © ARMA 2019

(31 January 2020 )