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 oHere 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;
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:
Preparation of service charge budgets
Building insurance
Block management duties include maintenance, safety inspections, cleaning, emergency support, and handling communal utilities and areas.
Administrative and legal duties encompass ground rent collection, company management, secretarial services, account handling, and responding to lessee and transaction inquiries.
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
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.
Click here to contact one of our friendly team who will be happy to help
