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Often a Residents’ Management Company (RMC) is enshrined as a party to the lease.
In such situations, the RMC will generally have responsibility for the management and maintenance of the common parts, collection of service charges and provision of services, and payment of insurance, maintenance costs, professional fees, taxes etc.
Generally speaking, each leaseholder will either be a shareholder or a member of the RMC.
The RMC is managed by directors who assume responsibility on behalf of the their fellow leaseholders to ensure proper management of the property.
Each RMC will have Memorandum and Articles of Association. These will set out how company decisions are to be made, and who can make those decisions. Those decisions will include who is to be appointed as Managing Agent.
You may have inherited a Managing Agent and may wish to replace them or could be unhappy with your current agent and their performance.
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As a resident and a director of Mercury buildings in Manchester I am pleased to offer my comments regarding Complete Property Management...
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