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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31768
Experience:  Over 5 years in practice
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I own a flat, where I and all residence own a share in freehold.

Customer Question

I own a flat, where I and all residence own a share in freehold. Although we have a management company does day to day running we have a ltd company that 3 owners are on, this was set up at start and one director is owner of management company. They are proving difficult eg in effect saying they are ltd company only need to answer questions at agm etc and doing things and spending money in a way we are not happy with
would we better off/pros/cons with a residents committe?
Submitted: 4 years ago.
Category: Law
Expert:  Alex J. replied 4 years ago.
Hi,

Thank you for your question and welcome to Just Answer.

The pros of this arrangement:
- More transparency;
- Reduced costs as you will have less administration with a second company.

The Cons:
- It will create more works as you will have to be more involved in the management.

Presumably the freehold company gives the management company instructions anyway?

Kind regards

AJ
Customer: replied 4 years ago.

which arrangment are y refering to want pros and cons for:


 


a--current situation--ltd company run by owners using management company


b--owners association using managemnt company


 


thanks


phil

Expert:  Alex J. replied 4 years ago.
Hi,

Thank you.

The pros and cons I have listed would be the pros and cons of option B.

In the current arrangement how does the management company get its instructions?

Kind regards

AJ
Customer: replied 4 years ago.

ref current arrangment please let us have pros and cons:


 


seems to be big jobs driven by owners ltd company but basic things by management company