Who decides to change the managing agent?

The OMC's board of directors normally makes the decision, acting in the members' interests. Depending on the constitution and the significance of the change, it may be appropriate to inform or consult the members, often at a general meeting.

What has to transfer when you change agent?

The client-account funds and the sinking-fund balance, the full set of records (budgets, accounts, the members' register, contracts and correspondence), the compliance evidence (insurance, fire, lift and other certificates), and the personal data the OMC controls. Nothing should be withheld: the money and the records belong to the OMC.

How much notice do we need to give the current agent?

It depends on the management contract. Check the notice period and any minimum term before you act. Most contracts specify a notice period in months; giving proper notice avoids a dispute and a messy handover.

Will changing agent disrupt the development?

It should not, if the handover is planned. Agree a transition date, make sure funds, records and compliance evidence transfer in full, and tell owners where to pay and who to contact from the switch date.

Governance

How to change your managing agent

A guide for OMC directors. When to consider a switch, what your contract allows, how to run a fair tender, and how to get a clean handover of the money, the records and the compliance evidence.

8 minUpdated July 2026

The short version

1The managing agent works for the OMC under a contract, so the OMC can change agent; start by reading the notice period and term.
2Run a fair process: define what you need, invite proposals, and compare on service and evidence, not just fee.
3The board normally decides, acting in the members' interests, and often informs or consults members.
4Insist on a clean handover: client funds, the sinking-fund balance, all records, compliance evidence and the OMC's data.
5Nothing should be withheld. The money and the records belong to the OMC, not the outgoing agent.

When to consider changing agent

Most boards start thinking about a change when the basics slip: service charges are not collected and arrears drift, questions go unanswered, the accounts are late or unclear, compliance certificates lapse, or the board simply cannot find out what is happening between meetings. A higher fee is not the usual trigger; a lack of delivery and a lack of visibility are.

Fix the visibility, not just the agent

Before you switch, be clear about what "good" looks like. A large part of agent frustration is not knowing the numbers. A modern agent can give the board a live portal instead of a twice-a-year PDF, which removes most of the friction on its own.

Step 1: Read the contract

Before anything else, find the management agreement and read two things: the notice period and any minimum term. These set the timetable for a clean exit. Acting without proper notice risks a dispute and can complicate the handover, so note the dates and work back from them.

Step 2: Define what the OMC needs

Write down what you actually want from an agent, so you can compare like with like. A useful checklist covers the things that go wrong most often:

How arrears are recovered, and how quickly.
Whether directors get live visibility of the money, the compliance and the open work.
How service charges are collected and how client money is held.
How fast the AGM pack and the annual accounts are turned around.
The agent's data-protection posture, including how arrears are reported.
Whether the OMC can export its own data, with no lock-in.

Step 3: Run a fair tender

Invite proposals from a few PSRA-licensed agents and compare them against your checklist. Ask each to show, not just tell: how would the board see the client-account balance, how would they report arrears, what does their handover process look like? Compare on service and evidence first, and fee second. The cheapest agent that cannot show you the numbers is not the cheapest agent.

Step 4: Make the decision, and bring the members with you

The board normally makes the decision to change agent, acting in the members' interests and in line with the OMC's constitution. Depending on how significant the change is, it is often right to inform or consult the members, frequently at a general meeting. Keep a clear record of the decision and the reasons for it.

Step 5: Give notice and plan the handover

Give the outgoing agent notice in line with the contract, and agree a transition date. Then plan the handover in detail, because this is where switches go wrong. Make sure the following transfer in full:

The client-account funds and the sinking-fund balance, with a reconciliation.
The complete records: budgets, accounts, the members' register, contracts and correspondence.
The compliance evidence: insurance, fire, lift and any other certificates.
The personal data the OMC controls, handled in line with GDPR.

The money and the records are the OMC's

An outgoing agent should not withhold funds or records. The client-account money and the documents belong to the OMC. If a handover stalls, take advice early rather than letting it drift.

Step 6: Tell owners what changes

From the transition date, owners need to know where to pay and who to contact. A clear, single communication to every owner avoids missed payments and confusion during the switch.

After the switch

A good new agent will have the development live quickly, with balances, schedules and compliance in one place from day one. If you have chosen an agent who runs on modern OMC software, the board should have a live view almost immediately, and the arrears and reporting problems that prompted the change should start to disappear.

Common questions

Yes. The managing agent works for the OMC under a contract, and the OMC can change agent. The main things to get right are the notice required by the contract and a clean handover of funds, records and compliance evidence.

Next: Not sure who is responsible for what between the OMC and the agent? Read OMC vs property management agent: who does what?

Note: This guide is general information for managing agents and OMC directors, not legal or financial advice. Cuan encodes these obligations as workflows, but always confirm specifics with the OMC's solicitor, accountant or company secretary.