Association recommendations for management company directors

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    Association recommendations for management company directors

    Hi all,

    I'm trying to find an association or group that can provide ongoing advice in our setup (which I'm sure is common).

    We are directors on the board of a management company which is solely owned by lessees of a block of 40 flats. The company owns the freehold of the flats.

    As I suspect is typical, none of the directors is hugely experienced, but get by with the help of our current managing agent to ensure that repairs are done and budgets and accounts are distributed and filed. We'd be interested in joining an association that can provide independent advice and provide a network for recommendations.

    Some example areas in which we'd be glad of advice are:
    - looking for a new management agent
    - understanding the financial and legal implications of the council handing ownership of our car park to us
    - how to deal with the impact of an increasing number of rented properties (and reduction of owner-occupiers)

    Ultimately we're keen to ensure we are meeting our legal obligations and are getting value for money from our managing agent.

    Any advice or links to appropriate resources that I've failed to find would be gratefully received.

    Many thanks for reading!

    #2
    The RICS Residential Management Code is the standard required from management companies. You can buy a copy from RICS Online bookshop for about £25 .

    If you want independent advice, I suggest you join FPRA ( Federation of Private Residents Association ) .

    https://www.fpra.org.uk/

    Comment


      #3
      Would second the FPRA - we joined them a few months ago and the advice received so far has been so valuable. Lots of guides and information free for members, plus legal and other specialist advice for free.

      Comment


        #4
        Thanks, both - the FPRA is exactly the kind of thing I was looking for!

        Comment

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