Flat Management Companies
SFS can form your Flat Management
Company within 8 working hours. To order now call 0800 328
7494.
How
much does it cost to form a Flat Management Company?
How
does a Flat Management Company work?
Why
have a Flat Management Company?
The
constitution of a Flat Management Company
Transfer
of shares - change of ownership
How
much does it cost to form a Flat Management Company?
| What's Included |
Flat
Management
Company |
| Free name check and
advice on your chosen name |
|
| Same day company formation
- usually within 8 hours |
|
| Certificate of Incorporation
- Laminated original copy |
|
| Memorandum and Articles
Of Association - Professionally prepared |
3
copies
(One bound) |
| Combined Company Register
for recording company officers and shareholders |
Bound |
Share certificates |
As
required |
Share Transfer Forms |
|
First Minutes of the
Board |
|
Companies House forms
as required |
|
Share capital based
on number of units in premises |
|
| FREE Business Helpline
for 3 months |
|
Delivery within the
UK - first class |
|
| Total
Cost including VAT |
159.95 |
How
does a Flat Management company work?
In
law, a limited company is seen as an 'individual' in its
own right. This means it can own property (such as a freehold
or leasehold) and enter into contracts in its own name.
It exists independently and separately from the people involved.
Why
have a Flat Management Company?
Flat
Management companies are companies used to manage the whole
of or parts of a site or building on behalf of its owners.
When there are multiple tenants, Flat Management companies
are normally used to protect the interests of the leaseholders.
In
shared properties there are often a number of areas that
are common and used by all flat/unit residents. For example,
communal halls, access areas and gardens. By having a Flat
Management Company you can establish a system for collecting
pooled funds in order to maintain and repair any common
areas.
If
the company will not own the freehold for the entire property
then it may not be appropriate to have a Flat Management
Company. A residents association may be more suitable.
The
constitution of a Flat Management Company
A
Flat Management Company has its Memorandum and Articles
of Association specially drawn up to allow the company to
own, manage and administer the property, which is normally
divided into several dwellings, units or flats. When a property
is divided into a number of flats, each flat owner has a
lease of their own flat but they may also hold shares in
a management company that owns the freehold (or lease) of
the entire building.
Transfer
of Shares - change of ownership
As
shareholders, the flat owners have their say in running
the limited company. Normally, the company's constitution
will say that shareholders who sell their flats must also
transfer their shares to the new owners. This ensures that
- at any given time - the limited company represents the
interests of all the current flat owners. However, it remains
a separate legal entity regardless of who holds its shares
from time to time.
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to
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Formation home page.
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