Document Transfer Guide
A complete guide for RTM directors, Share of Freehold companies and freeholders. The financial, compliance, insurance, contractor and legal records an outgoing managing agent must hand over - and what to do if they are slow to release them.
Reserve and sinking fund balances are held on statutory trust for the leaseholders. The outgoing agent should provide a current statement, the contribution schedule, interest accrued and any committed but unpaid expenditure. We reconcile each balance against the latest accounts before drawing on the fund.
A reputable outgoing managing agent should produce all of the above within four to six weeks of notice, free of charge as part of their exit obligation. East Valley produces a written gap analysis on every take-over and reports directly to the board on anything missing. We then escalate, using the agent's redress scheme and RICS regulatory route where necessary, until the records are complete.
East Valley regularly handles difficult handovers. We chase records professionally, escalate where needed and produce a written gap analysis so directors know exactly where the building stands.