Resident Management Companies (RMCs)
Because we understand the potential difficulties, pitfalls and responsibilities of running a limited company, we can relieve you of daily concerns.
Running a Resident Management Company (RMC) is rarely as straightforward as it seems when it comes to administering the affairs of your property. There are compromises to be made, cash flow to be managed, forward planning, accounting, ever-increasing legislation and all sorts of day-to-day issues that arise needing your time and attention.
We have the facility of negotiating lower rates for buildings insurance, so management companies can 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 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
If required we can:
- 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
We can help you with all of this, and more!
We also provide advice and assistance so that Director duties can be carried out competently. We will be on hand to work with you every step of the way.