Recent FTT hearings have highlighted the importance of good record keeping, particularly for managing agents. Bradys’ service charge experts explain why retaining important documentation will help you in court.
It goes without saying that good housekeeping is a habit we should all get into, but it’s become more important than ever for managing agents to keep paper trails of documents that can be relied upon in court.
Processes change over time and managing agents need to be able to show what changes have been made and why, particularly when it comes to the collection of service charges. In one recent case the original service charge demands produced by the leaseholder differed from those presented by the managing agent. The tribunal always tends to place more emphasis on originals, therefore, any differences must be explained with a paper trail to back up the explanation.
In addition to keeping paper trails, managing agents must also either keep copies of their demands or have access to a system that can produce them, even if they lose management of a property. Failure to retain copies of important documents such as demands and accounts could result in action being taken against you.
Need help getting your service charge systems in order?
Brady Solicitors works with managing agents to instil good housekeeping procedures and can help get your records in check if processes have slipped a little. For further information please call the team on 0115 985 3450 or send us an email.