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Property Management Company Issue

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Hi

Live in south Belfast. Where I live is one large site. One old huge house that was redeveloped into two semi detached houses ( I live in one ) and 5 apartments and car parking built on the rest of the site. We have had a property management company which covers apartments and communal areas such as garden and parking. I pay about 300 per annum and apartments pay about 700 as they pay for communal apartment block issues and building insurance.

Anyway , property management company was run by a 74 old man and he was a director of the company set up for our specific property. The second director needed legally was vacant as it was a previous property owner and was about to be transferred to my name ( just for admin purposes ) . Just heard the 74 year old man died suddenly .

So basically a big can of worms as a) will need to try and reclaim funds from old company

and

B) will need to either get another management company ( they will not be as good as he was ) or will need to look at setting up our own management company which I think old be a better way forward.

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First of all you don't need to set up a new company. The property management company still exists. What you need to do is to call a meeting and put yourself forward to be appointed a director. You can then run the company.

If you go to Companies House website you can download a copy of the Articles of Association, if you don't already have access to a copy. This specifies the rights and obligations of the members to the company.

We did this on the development I live in. The managing agents appointed by the developer were not carrying out their duties to the satisfaction of the members. We dismissed them and I was appointed the new managing agent. In your case it should be more straightforward as the position of director is vacant and you don't have to overcome the problem of dismissing an existing director.

Have a look at Landlordzone.co.uk you will find a lot of information about the practical issues you may encounter. Another good source is lease-advice.org.

Good luck.

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