Estates which already benefit from having their own resident management company may be interested in our range of property management services. We can look after service charge collection, attend to company secretary duties, provide a full estate management service and arrange an audit of the service charge accounts. Have a look at our Services Price List for guidance and just choose how many, or how few, of the management duties you wish to retain in house and we are happy to quote for the remaining tasks.

Here are our dos and don’ts for resident management companies:

v      Do not invite a managing agent to put their personnel on your board except as Company Secretary. If a managing agent is granted a board appointment try to make sure there are sufficient residents on the board, at all times, to pass ordinary resolutions. Voting rules are defined in your company Memorandum and Articles of Association. If you want a managing agent, or other advisor, to sit on the board consider strengthening the M&A to require (non-resident) board appointments to stand down and apply for re-election every 12 months.

Reason: Residents can lose control of their companies, at board level, to unscrupulous parties. [If this happens a special resolution to remove undesirable directors and officers has to be put to shareholders. Company special resolutions require 75% in favour of the resolution to be successful.]

v      Do retain control of your bank account and have sufficient resident signatories to cover holiday absences. If the managing agent is authorised to sign cheques require a resident’s signature on each cheque too.

Remember: Always make sure there are sufficient resident signatories on the bank account to continue issuing cheques.

Alternatively pay the managing agent a monthly retainer to settle regular bills and take responsibility for paying large bills yourselves.

Reason: In the event the managing agent is not re-appointed the bills still have to be paid.