What A Residents’ Management Company Can Do For You

In England, many companies specialise in the management of commercial and residential properties. A good residents' management company is well organised and provides excellent services to its clients. The main work of such companies is to better look after residential properties. In these organisations, some properties belong to the company, while others they rent from individuals for development. Individuals may also hand over closer control of their property to the company for refurbishment at a higher standard. Normally these companies are considered as leaseholders.

Every residents' management company (RMC) needs to maintain an up-to-date list of all its members. This list shows who is in control of a property, as well as any shared ownership or shared responsibility arrangements that might apply to it. This list also helps to identify where listed individuals are blood relatives, as the prevailing laws of the country may impose restrictions in such instances. Some specific forms are prescribed for each RMC to record and notify changes of address. Apart from address changes, the work of any RMC should be carried out with transparency. The location of their register, having the details of all the members, should be known to everyone. Full details should be provided by the relevant parties on forms No 353 and 353(a).

All the companies should submit annual returns in the prescribed format and also notify the list of shareholders. The headquarters of the company must inform all of their members before every due date of dividend disbursement. Any Residential Property Management must itself be properly managed in order to thrive; a casual attitude towards running the company can raise legal problems and is ultimately likely to result in the organisation failing before too long.

Buildings cannot maintain themselves, and to look after any building properly for the satisfaction of its residents, a certain amount of management and maintenance is necessary. As such, the Property Management Company must be well organised and capable of delivering satisfactory levels of management and maintenance. Good RMCs have been doing just that nationwide for many years - not just in the big cities, but throughout the country. Where the properties registered with these firms are not well developed, it is this experience and expertise that enables RMCs to bring them up to a high standard, while carefully balancing the time taken and the expense involved in doing so.