Small Block Management

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    Small Block Management

    I did own a flat in a block of 9, I have now sold it. I also dealt with the day to day issues and bank accounts for the company. Since I no longer have an interest in the management I want to resign. The problem is non of the other owners will take on the management, even though they are all directors! What can be done? I have tried to get a management company to take it on but no one is interested in a small development. Any advice greatlyappreciated

    #2
    You just resign, send in the apropriate form to companies house, and walk away.( asuming you were a director or company secretary.)
    NOT your problem.

    If they want to be struck off for not sending in accounts to Companies house, not your problem.
    If they want not to be able to sell their flats because the freeholder company has been struck off, not your problem.

    Just write to all leaseholders with above infor, and walk away.

    I have NEVER had a director resign when they sell a flat, I just resign them myself.
    If you are still a member of the company, you could be liable for any criminal actions of current leaseholder / directors.

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      #3
      This post should be in "leasehold"

      Comment


        #4
        As long as there are two directors of the management company if you resign, you simply resign and let them sort it out.
        When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
        Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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          #5
          Originally posted by jpkeates View Post
          As long as there are two directors of the management company if you resign, you simply resign and let them sort it out.
          Even if only one director, let them sort it out.
          It's up to the directors to stop playing at directors and get their fingers out..... It's Not your problem.

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            #6
            Also change the bank mandate and hand over any accounting records to the other directors.

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              #7
              Or, you can offer to run the company as an independant property manager, for £ 150 per flat ( £ 1350 in total )
              But for all that work ( assuming you spend 8 hours a week ) i'ts £ 3.24 per hour, it's not worth it.
              That £3.24 includes printing paper, cartridges at up to £ 25 each ( I use black only ). but I save £ 100 by refilling them and lightly tapping print head under running water to clear the print head ( it works ): paper, stamps, minuets of agm etc, and S20's - again not worth it.

              i do it at those prices, ( costs more for for 3 to 4 flats ) but I enjoy a challenge, which EVERY one so far has been. I take no prisoners, which is why I get called in sometimes.

              BUT, don't offer, above is just what you may be able to do, but waste of time for you.

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                #8
                It is definitely not worth doing it yourself, you would need to belong to one of the government approved redress schemes.

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                  #9
                  There will be agents who'll take it on, just not the large corporate types. As a relatively small independent in the Manchester area I set a minimum fee of £2000pa to be able to cover costs, below that it really can be a struggle and we often earn more managing just one apartment (we do lettings too) in the building than the building itself.

                  Have a look at the ARMA website for agents in your area, one of the questions on renewing the subscription is would we consider fees of £2k and below, which should help to generate options for smaller blocks.
                  <a href="http://www.manchesterpropertygroup.co.uk/" target="_blank">Manchester letting agents</a>

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