Companies House offers advice to new directors of RMCs Planning to set up a residents' management company? Companies House has launched a new online tool to increase awareness of the responsibilities that a new residents' management company director must assume. The online tool came about as Companies House receives complaints from residents living in shared buildings or properties such as flats. The complaints range from disputes between residents to the poor condition shared areas such as stairways. Flat management companies are commonly set up by residents to manage communal areas of a shared property and the overall condition of the building. The residents of the property are usually the directors and shareholders of the company. However, there can be confusion among some directors and shareholders over who is responsible for what. For example, each company is required by law to file accounts with Companies House every year. If you are a flat management company director, or if you are thinking about setting one up, you need to know about your responsibilities to Companies House. You can view the online tool here. RMC directors unaware of some responsibilities Each year Block Management UK Ltd receives a great many calls from current directors of flat management companies and those that are seeking to become directors. Many do not understand the level of responsibility or details such as the fact that they will require Directors' and officers' liability insurance or that they must ensure compliance with relevant health and safety and fire risk legislation. When an RMC appoints us as their managing agent, we take on a great deal of the role of managing a property. however it is important to realise that the responsibilities of being a director remain. We are always happy to discuss this with our clients once we are signed on to manage their property. To make an enquiry about our property management services complete our short online quote form. (19 March 2021 )

Companies House offers advice to new directors of RMCs

Planning to set up a residents' management company?

Companies House has launched a new online tool to increase awareness of the responsibilities that a new residents' management company director must assume.

The online tool came about as Companies House receives complaints from residents living in shared buildings or properties such as flats. The complaints range from disputes between residents to the poor condition shared areas such as stairways.

Flat management companies are commonly set up by residents to manage communal areas of a shared property and the overall condition of the building. The residents of the property are usually the directors and shareholders of the company. However, there can be confusion among some directors and shareholders over who is responsible for what. For example, each company is required by law to file accounts with Companies House every year.

If you are a flat management company director, or if you are thinking about setting one up, you need to know about your responsibilities to Companies House. You can view the online tool here.

RMC directors unaware of some responsibilities

Each year Block Management UK Ltd receives a great many calls from current directors of flat management companies and those that are seeking to become directors.

Many do not understand the level of responsibility or details such as the fact that they will require Directors' and officers' liability insurance or that they must ensure compliance with relevant health and safety and fire risk legislation.

When an RMC appoints us as their managing agent, we take on a great deal of the role of managing a property. however it is important to realise that the responsibilities of being a director remain. We are always happy to discuss this with our clients once we are signed on to manage their property.

To make an enquiry about our property management services complete our short online quote form.

(19 March 2021 )

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