transitioning from FTT appointed manager back to RTM

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

    #16
    Originally posted by Sarah B View Post
    RTM does not prevent you engaging a managing agent as well (in fact it is encouraged I believe). If you are happy with the FTT appointed one, why not keep them on?
    That was my thought too. You will not have the hassle of a handover, and you will be dealing with a somewhat known quantity. You can evaluate whether you have a good working relationship, when they can no longer dictate what is done, and generally get a feel for what it is like to use a managing agent, making it much easier for you to select a good agent for the following year.

    Comment


      #17
      Originally posted by poppyfield View Post
      Thank you both for your timely replies, this is really helpful Yes the company is listed as dormant so I suppose that means everything is still as it was. Yes the agent is arranging the meeting. It's good to know that the manager has ultimate say over the formation of the board, and cannot be overridden by the RTM.
      An FTT manager appointed by the FTT will have been put in place to oversee and abide by the requirement of the Lease, that is their legal remit. They are not there and the FTT will not have appointed them to get involved with the Company law side of things. The company is dormant because leasehold companies are normally non trading entities.

      Hold some meetings with all the shareholders, get a feel for what they want? Ask them if any will stand as directors? As directors they will have responsibilities including as previous comments the requirement to undertstand Company law, The Lease, RICS service charge guide,Insurance and maintenance obligations and UK law. If some are up for this then would suggest 3 directors act and the rest vote against the directors who are not pulling their weight at a called AGM meeting. Or if simply want to remove existing directors and you have enough people to create the shift in voting power then do this via a meeting following all correct processes because if you don't they can outveto decisions.

      Comment


        #18
        It is a concern that the manager has not addressed “historical problems” despite managing for a period of 4 years and the obvious question is why not? It is in the directors interests to appoint a managing agent in whom they have confidence and who will deal with problems which would otherwise be referred to them. Appointing the current manager may be seen as the easy option but it is not necessarily the best option. The decision is being made now and it makes sense to consider all the options at this stage rather than to defer the decision for another 12 months.

        Comment

        Latest Activity

        Collapse

        Working...
        X