Property managers

Property managers support property owners and residents in the management and maintenance of shared amenities benefiting the property funded by service charges or estate rentcharges.

“Property manager” can refer to individuals or organisations acting on behalf of freeholders, resident management companies (RMCs), right to manage companies, estate rentcharge holders, or developers.

Property managers are responsible for day-to-day management and compliance of residential buildings; leasehold, managed freehold, and commonhold. Their role is central to maintaining buildings, delivering building safety, managing financial obligations, and ensuring that residents and leaseholders receive accurate and timely information throughout the property lifecycle.

Property managers hold critical data, that contributes to safe, transparent, and efficient transactions. They can assist incoming owners to be aware of their obligations for the maintenance of communal areas, and the current state of communal assets and funding for them. Provided in the FME1 (Freehold Management Enquiries) and LPE1 and LPE2 (Leasehold Property Enquiries) forms, this includes leasehold details, service charge budgets, building safety documentation and insurance records.

The process

Today’s information flow is reactive and fragmented, with data requested post-offer and compiled manually. This causes delay, duplication, and consumer frustration.

Listing & marketing

Property listed without verified service charge or safety details; material information often incomplete

Offer

accepted

Buyer’s conveyancer issues LPE1/LPE2; Property manager gathers data from multiple systems

Data

compilation

Locate FRAs, EWS1, insurance, budgets; chase missing/expired documents

Response & enquiries

Large PDF package returned; further enquiries due to gaps/inconsistencies

Exchange & completion

Final confirmations late in process; limited buyer visibility earlier on

Key pain points include

Duplication and rework; delays of several weeks common
Inconsistent data and poor version control
Limited visibility for insurers and lenders; heavy admin burden
Discrepancies in lease terms or service charge data can lead to legal risk, additional enquiries, and significant delays – accuracy of information is critical
Complexity of modern leases requiring specialist legal and technical expertise to interpret and present correctly.

When recommended practice is followed, these are the key stages in a property transaction involving property managers and the main activities they are involved in

Pre-market preparation

Maintain live, structured dataset aligned to DPMSG standards

Digital RFI

Pull verified data from systems/APIs linked to DPIP schema

Cross sector integration

Lenders, valuers, conveyancers access the same verified data

Continuous updating

Lifecycle records reduce admin on subsequent sales

The proposed process will cut weeks from timelines, reduce enquiries, improve consumer trust and align with Building Safety Act and Home Buying and Selling reforms.

Rules and Regulations

Property managers operate within one of the most regulated areas of the residential property sector. Their responsibilities - shaped by legislation such as the Leasehold & Freehold Reform Act 2024, Building Safety Act 2022, and Fire Safety Regulations - span building safety, financial management, consumer protection, and data compliance.

Many are accredited by bodies like The Property Institute (TPI) or Royal Institution of Chartered Surveyors (RICS), and must follow codes of conduct such as TPI Consumer Charter and Standards or the RICS Service Charge Residential Management Code. They must also engage with recognised redress schemes, and uphold data protection standards under UK GDPR.

Where Property Managers act for retirement housing or sheltered schemes, they must comply with the ARHM Code of Practice, which sets standards for transparency, service charge management, and resident engagement. The Code reinforces best practice in accuracy, fairness, and consumer protection, complementing statutory duties under landlord and tenant legislation.

Their work is governed by a complex framework of legislation, including:

Landlord and Tenant Act 1985 – covering landlord obligations and tenant rights
Commonhold and Leasehold Reform Act 2002 – setting out rules for consultation on major works, service charges, and the Right to Manage
Building Safety Act 2022 – defining the role of the Accountable Person, Golden Thread information, and duties for higher-risk buildings
Fire Safety (England) Regulations 2022 – duties for information sharing with residents and fire authorities
Health and Safety at Work etc. Act 1974 – ensuring safe management of residential premises
Data Protection Act 2018 and UK GDPR – governing the handling of residents’ personal and building information
Anti-Money Laundering Regulations 2017 – where client monies or transactions are involved

Additionally, property managers are expected to comply with professional standards such as:

RICS Service Charge Residential Management Code – setting best practice for managing leasehold service charges
TPI Consumer Charter and Standards – The Property Institute (TPI) Company members must adhere to the principles stipulated in the Consumer Charter and meet the requirements of the Standards
TPI Code of Conduct – issued by The Property Institute, outlining ethical and operational standards for individual members

Regulatory oversight

Property managers are typically accredited by TPI and/or RICS; the Building Safety Regulator (HSE) provides oversight for higher-risk residential buildings. Where property managers act for or support the (Principal) Accountable Person, they must maintain and provide evidence of Golden Thread information.

They are required to be a member of a redress scheme whether that is the Property Ombudsman Scheme or the Property Redress Scheme.

What data does a property manager need?

A property manager would benefit from a range of data to support their service, including

Property Title & Legal: Title register/plan; charges and notices; proprietor and occupier details;

Leasehold & Financial: Lease terms, service charges, reserve funds, arrears, Section 20 notices, and management details

Building Safety & Compliance: Safety register entries, safety case reports, gas/electrical/lift certificates, asbestos registers, and fire door/alarm testing.

Insurance & Risk: Building policy documents; certificates of currency; claims histories; professional indemnity coverage; broker/insurer contacts

Operational & Occupancy: Resident engagement records; emergency protocols; occupancy types; asset registers; maintenance schedules and SLAs; contractor competence records

Data sources

A property manager can obtain data from a variety of sources, including:

Direct from the client verifying* with the relevant authority

Liaising with the scheme’s accountant and tax advisor

Annual reports, standardised service charge forms and other property information

*The client may be the Landlord/Management Company/Estate Rentcharge Owner/Commonhold Association. Authenticating the origin of the data, allows the property manager to establish whether the information is verified by the relevant data authority.

Data sharing

Digitised LPE1/FME1 data could then be shared with other stakeholders for their benefit and would enable:

The estate agent to identify the Material Information relevant to the property

Mortgage broker to identify which lender will lend on a property

The valuer as to the items which would impact the value

Conveyancing lawyers to advise clients on Material Information and anything which impacts the properties intended use and ensure Property Managers have required information

Financial adviser to advise on the affordability of the property

Benefits and opportunities in collaborating
to share data

Sharing data early and throughout the buying and selling process offers property managers a range of benefits, including

Maximise access and efficiency

Faster, more transparent transactions – earlier access to verified property management information reduces follow-up queries and fall-throughs
Improved regulatory compliance – supports Building Safety Act duties and the Golden Thread principle
Data-driven efficiency and innovation – integration with PropTech and logbooks enables automation and reuse of verified data
Cross-sector alignment – provides a single version of truth used by insurers, landlords, management companies, conveyancers, valuers, and lenders

Improved client
experience

Ensure that premises owners and resident-lead management companies understand their rights and obligations under the leases with individual property owners (leaseholders)
Ensure that property owners know their rights and obligations in respect of the use and maintenance of communal areas
Ensure that property managers receive the information which they need from new property owners to undertake their role efficiently