Becoming a director of a Resident Management Company (RMC) is no small responsibility. The role has evolved significantly in recent years, with increasing obligations around building safety, legislative compliance, financial management, and ensuring that residents’ homes remain safe, well-maintained, and welcoming environments. The stakes are high, and one of the biggest decisions an RMC board will face is appointing the right managing agent and making sure they are The Property Institute (TPI) registered.
The Weight of the Decision
For many RMC directors, choosing a managing agent can feel daunting. After all, they are entrusting the day-to-day running of their building or estate – and often, significant sums of service charge money – to an external company. It’s natural to ask:
- Will they have the right expertise to manage our building properly?
- Do they have the right industry credentials and experience?
- Can they be trusted to handle our finances transparently and responsibly?
- Will they make the right decisions, quickly and effectively?
- Will they prioritise resident safety and ensure the building is well maintained?
These concerns are valid, and with long-overdue regulation of managing agents on the horizon, selecting the right partner has never been more important.
What to Look for in a Managing Agent
A high-calibre managing agent should offer more than just the basics. They should bring expertise, reliability, and the ability to adapt to an ever-changing legislative landscape. Key things to consider include:
- Industry Memberships & Accreditation – Are they regulated by The Property Institute (TPI)? These memberships indicate adherence to professional standards and best practices.
- Technical & Compliance Expertise – With building safety laws becoming more stringent, having in-house experts who understand technical and compliance requirements is essential.
- Financial Transparency & Stewardship – Your agent should ensure service charge funds are handled responsibly, with clear reporting and a focus on value for money.
- Continuity & Real People Behind the Service – You need a team you can build a relationship with, not a faceless call centre. A reliable point of contact who understands your building is invaluable.
- Technology that Enhances Service, Not Replaces It – Good technology should support effective management, providing transparency and efficiency without removing the human element.
At Centrick, we recognise that this is a big decision – one that affects not just directors, but every resident in the building. That’s why we prioritise continuity, clear communication, and an approach that balances expertise with a personal touch.
Guidance and Training for RMC Directors
Being an RMC director comes with its challenges, from navigating legal responsibilities to ensuring effective financial and operational management. To support you in this role, we’ve developed a comprehensive RMC Director Training programme, designed to provide the knowledge and tools you need to make informed decisions about your managing agent and the wider responsibilities of running your development.
Whether you’re newly appointed or an experienced director looking to refine your understanding, our training covers everything from governance and compliance to budgeting and best practices in property management. With significant regulatory changes on the horizon, now is the time to ensure you’re fully prepared to meet your obligations with confidence.
To register for our training, please complete the form below, or to talk to us about management of your development, please click here. We look forward to supporting you in your role as an RMC Director.
