Tenant Management Companies
Frequently the responsibility for the management and maintenance of an Estate may be with a Management Company, owned by individual Lessees. We recognise the difficulties, pitfalls and responsibilities facing such Tenant Management Companies, both in terms of ever-increasing statutory legislation, problems of cash collection and the regular issues that occur from day-to-day.
What we do
We offer our Clients freedom from such concerns, and especially from the worries that come with the responsibility of running a limited company and the duties in relation thereto.
We have the facility of negotiating lower rates for Buildings Insurance, enabling Management Companies to share the benefits of our buying power. We can also arrange for Directors and Officers Liability Insurance to protect the Directors of the Management Company against any claims for negligence. We will meet with the Directors of the Management Company on a regular basis to discuss management matters and advise on:
- the liabilities and responsibilities of directors
- the preparation of annual budgets
- the collection of service charges
- bad debt collection
- maintenance of client accounts
- minor repairs
- cyclical maintenance programmes
- annual preparation of Service Charge Accounts
In addition, if required, we will:
- arrange for the maintenance of the statutory books and records for the Management Company, including the various returns that must be filed at Companies House
- attend the Annual Meeting of Shareholders
- arrange for the issue of new share certificates when a flat is sold
- liaise with Accountants concerning the statutory accounts of the Management Company, the filing of any tax returns, and the payment of any tax due.