RTM/Freehold Management - Shareholders rights to docuementation

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    RTM/Freehold Management - Shareholders rights to docuementation

    HI all,

    We are a small RTM set up to manage our freehold block of 20 flats. Our company has 3 directors and a manager. All other leaseholders are shareholders in the company.

    One of the leaseholders has requested documentation relating to day to day management of the building, specifically reinstatement. Do we have any obligation to surrender these docs?

    Tnkas

    #2
    What possible good reason is there to want to be non-transparent.
    Unless the Directors are crooks of course - which is a common problem in RTMs.

    What exact documents do they want/need?

    Comment


      #3
      Reinstatement is a word I have seen in the buildings insurance policy which should include "insured cover" for "reinstatement of the building after total damage".

      After issue of audited annual service charge accounts, leaseholders can make an appointment to inspect all the documents related to the service charge accounts and take photocopy of any expense receipt etc. for a small charge.

      The money in the service charge account belongs to the leaseholders and there is no good reason to be "non-transparent".

      Comment


        #4
        Transparency is very important, if you withhold information. you are considered to be devious and the more likely you will be challenged. The more information you offer to make available to leaseholders demonstrates that you have nothing to hide and in turn it will be less likely that the leaseholders will request to see that information.

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