Resident Management Companies
Management Services for Residential Management Companies
Here at Horizon Management, we understand the pressures and complexities that property management can create for a Residents’ Management Company, so we’re here to help. We work with RMC Directors to help them meet their management and legal obligations and achieve desired outcomes for the block whilst delivering a high quality service for all Leaseholders.
The smooth running of the RMC is key to a well-run development which helps protect the property values within a block or development. The Board of Directors of the RMC is made up of Leaseholders that have been elected to legally comply with a range of company, health and safety regulations and legislations. Directors will usually spend a considerable amount of their own time and effort on behalf of the other residents, by making key decisions and dealing with enquiries about all aspects of the development as they arise, usually for free!
We know that running a RMC isn’t a straightforward matter. It is important to be aware that Directors can be found personally liable for breaches in legislations and need to act within the Memorandum and Articles of Association. It is important to remember that as a Director, you are responsible for filing an annual return for the RMC and failing to do so, or completing it incorrectly, may result in a fine.
We have put together a checklist of the main responsibilities of a RMC Director;
- File changes of details of officers
- Keep the statutory books up to date at all times
- Ensure statutory accounts are prepared within the time limits
- File annual returns on time
- Diarise critical dates for dealing with important company matters
- Keep all Leaseholders informed of any major item of importance
- Keep secure legal documents such as leases and the other title documents
- Understand the lease of a block or development
- Ensure Leaseholders pay their Service Charges on time
WHAT HORIZON CAN DO FOR YOU?
As we have highlighted above, the responsibilities of the Board of Directors are large and complicated. As the appointed Managing Agent we work in partnership with the Directors to guide decision making and provide an experienced service to remove the obligations, pressures and concerns of the operational running of the company. Apartments in professionally managed blocks are usually easier to buy, sell and re-mortgage. This is paramount for retaining each property’s value, as well as being more harmonious places for residents to live.
We will meet with the Directors of the Resident Management Company on a regular basis to discuss management matters and arrange or advise on:
1. Preparation of service charge budgets
2. Building insurance
3. Block management duties;
a. Fire alarm testing
b. Health & Safety inspections
c. General service testing
d. Communal area management (bin store, garden, hallways etc)
e. Communal area cleaning
f. Emergency 24 hour helpline
g. Caretaker spot checks
h. Communal area utility bills
i. Repairs and maintenance where required
j. Serve appropriate notices where required
4. Administrative & Legal duties
a. Ground rent collection (if required)
b. Preparation and submission of each block management company
c. Company secretary service
d. Manage client and reserve account
e. Deal with lessees enquiries
f. Respond to enquiries during sale and purchase of apartments
NOT SURE WHERE TO GO FROM HERE?
If you are not quite sure where to go from here or whether you need the help of a Managing Agent, we can give you no obligation advice on the following matters:
- Checking your service charge offers value for money
- Highlighting health and safety risks
- Identifying potential enhancements to your development
- Providing advice on how to improve resident communication
- Highlighting management issues and advising on solutions
- Helping you reach an informed decision on future management
LOOKING FOR A MANAGING AGENT?
As an experienced and accredited property Managing Agent, we recognise that our clients want the reassurance, knowledge and protection, that our service offers, to support their block’s performance legally, financially and physically.
We know that there is a wide variety of regulations and laws that surrounds running a RMC, so our approach is to work in partnership with our RMC clients, to the extent wished, ensuring that the appropriate advice is provided, and the various obligations are taken off the Directors.
Whether it’s your first time selecting a managing agent, or you’re looking to change managing agents, we are here to help.
- Block Management for Property Developers
- Managing Agent Services for Right to Manage Companies
- Company Secretarial Services for Block Management
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