A property manager’s responsibilities include preparation of budget and cash flow reports, annual service charge estimation, payment of invoices and wages, collection of service charges, preparation of draft accounts and liaising with an auditor, organising insurances and administering claims, attending to leaseholder/resident enquiries, attending the AGM, preparation of a maintenance and repair plan, advising on major contract work, ensuring compliance with the terms of leases and Board policies, performing company secretarial duties, preparing job descriptions and specifications for contractors, supervising employees and regular contractors, ensuring compliance with Employment, Health and Safety legislation, organising staff training, reporting on significant lessee/resident communications, keeping the Board informed of status of agreed actions.

A Right to Manage Company has several options:

a)       Leaseholders provide all property management duties themselves.

Pro:      Significant service charge savings.

Con:     Very time consuming for a few dedicated leaseholders.

b)       Leaseholders provide high-level management and outsource specific tasks and duties.

Pro:      Allows the Board to focus on the important issues and outsource the more exacting responsibilities with cost savings.

Con:     Requires commitment from a few leaseholders.

c)       Leaseholders appoint full service property management company.

Pro:      Property Manager is fully accountable to the Board and requires minimal time commitment from leaseholders.

Con:     Smaller financial saving.