What a managing agent costs (and when it is worth it)

Let us talk money with real numbers.

What it costs

For a small or medium building in Spain:

• 6–10 homes: 80–150 € a month.
• 10–20 homes: 120–250 € a month.
• 20–30 homes: 200–350 € a month.

That is between 1,000 and 4,000 € a year coming out of everyone service charges. And note: special levies, changing suppliers or court proceedings are usually billed separately.

What it includes (and what it does not)

A good managing agent keeps the accounts, issues charges, calls meetings, drafts minutes and handles issues with suppliers. What they do not do: live in your building. The blown bulb is still spotted first by the neighbour on the first floor, and the call to the plumber often ends up being made by the chair anyway.

When paying for one makes sense

Being honest, there are cases where it does:

• Large or conflict-ridden buildings (chronic arrears, open litigation).
• Buildings with complex services (employed staff, rotating car parks, industrial installations).
• When nobody is willing to give a couple of hours a month.

When it does not

If your building has between 6 and 30 homes, few incidents a year and accounts that fit on one screen, you are paying thousands of euros for two hours of work a month. What you need is not a professional: it is order — a place where charges, expenses, minutes and announcements manage themselves and any neighbour can take over from you without inheriting a box of papers.