The role of a managing agent remains unregulated although there are a number of regulations both managing agents, freeholders and resident management companies have to abide by else risk legal or monetary implications:
Leasehold Reform and Housing Urban Development Act 1993
The right to enfranchisement on a collective basis. With the introduction of this legislation, residential long leaseholders were empowered to purchase lease extensions and other self management rights.
Commonhold and Leasehold Reform Act 2002
This act improved the rights of leaseholders and introduced a far greater degree of control and autonomy in the management of their property. The act provides them with the freedom to choose what, if any, management strategies are employed to protect owners investments and has allowed a stronger and more coherent law governing leaseholders rights.
The Landlord and Tenant Act 1985 and 1987
The foundation of leasehold legislation in the UK (excluding Scotland).
Health and Safety at Work Act 1974
The law that requires compliance with all aspects of health and safety applicable to all internal and external communal areas of the building that are open to the general public. This includes providing adequate risk assessments and providing correct health and safety policies.
Regulatory Reform (Fire Safety) Order 2005
Included in the responsibilities of Residents Management Companies is the provision of an adequate fire risk assessment.
Electricity at Work Regulations 1989
This law covers the maintenance of electrical equipment and the way in which electricity is used and supplied in common parts of a development to reduce the risk of harm or injury by electrocution.
Control of Asbestos Regulations 2006
The law covers asbestos licensing and the safe management and removal (where necessary) of asbestos containing materials (ACM's). This legislation specifically covers the communal parts of all buildings.
Companies Act 2006
Although some what streamlined to allow for today's modern technology any limited Company which includes Resident Management Companies (RMCs) have to abide by this act and work in accordance with their Memorandum and Articles of Association
Oak House 6 Dorchester End Colchester Essex CO2 8AR