STEP 2 - Take Responsibility
Once the last property has been built and sold, a developer will hand control of a completed development over to the property owners. There should then be an election, held to create a Board of Directors for a Residents’ Management Company, to represent the interests of all shareholders.
If your development has been completed, but a Board of Directors has not yet been elected, you may ask your developer to arrange an inaugural meeting of all property owners, where volunteers are invited to stand as Directors. It may sound daunting, but it really isn’t and it is so important to protect and enhance the investments you have all made in your properties.
If you would like to know more about creating or running a Residents’ Management Company, contact us now, on
0845 805 5408 or email