AdviceMANAGEMENT
SO YOUWANT TO be aDIRECTOR
Jimthornton introduces a newguide for prospective flatmanagement directors
As professionAl propertYmanagers, we areoften approached by residentsinthe blocks we look afterwhoare keen to become directorsoftheir flatmanagementcompany butare worried aboutthe
implications.Itis oftenthese directorswho providethe glue that holdstogetherastableand harmonious block,whethertheyare running aresidents management company(RMC) set up as athird partytothe leaseor, increasingly,aRight to Manage (RTM)
company.Asresidentsmove in and out of a block there is always a need for newdirectors but even if people are willing to getinvolvedtheyare notalwayscertain of theirresponsibilities. Over the years we have found that we
arealwaysbeing askedthe samequestions: CouldIbeprosecutedifthere is an accident? Could I be liable for costs if someone takes thecompany to court? So we decidedtoput
thereis nothingto fear but fear itself
together abooklet forpotential directorsto providethe answers to theseandmany other most commonly
askedquestions.The issues that are raisedmost frequently andwhich we deal with in the booklet include: nAmIeligibletobeaDirector?
nWhat responsibilities andwhatliabilities would I have?
nWhat happensifweloseacaseatthe LeaseholdValuation Tribunal?
nWhat is the2006 CompaniesAct allabout, andwhat on earth is Table A?
Somethingelsethatall newdirectors need to know is that themost importantdocument as farasflatmanagement companiesare concernedisthe Articles (orMemorandumand Articles orMem&Arts) of
thecompany.The Commonhold and Leasehold Act 2002 marked theadventofthe RighttoManageand with it wasintroducedastatutory set of Articles. Our booklet includesanappendixwhich analyses theseArticlesand provides acolumn so directorscan usethemasachecklist to make it easier to analyse theMemorandum
32
Thereis always a
need fornew directors
If directorsknowwhat they aretakingon...
andArticlesoftheir own company. As withmany aspects of the leasehold sector,there is no standard format for company Articles – howmucheasierfor everybodyifthiswas the case butitseemsthat every timeablock is built, the developer often reinvents the wheel. At Hurford Salvi Carr we hope that this bookletmaymake the opportunity to join the boardofaflatmanagement companyalittlelessdaunting for leaseholders. There is no
doubtthathavingawellrunRMC or RTMcompany in placemakes a blockamuchnicer placetolive–and makeslifefar less complicatedfor the propertymanagerifone is in place. If directorsknowwhattheyare taking on and act with integrity and in the best interestsoftheir fellow residents, there is nothing to fear but fear itself. Help! They want me to be a director is now availablefreeofchargeina40-page, A5 booklet.●
JimthorntonManaging Director, Hurford Salvi Carr tel 01992 515595 for Carole Thomas email
jim.thornton@
hscpm.co.uk Webwww.hscpm.co.uk
Autumn2012
Flat Living
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