Freehold management companies own the freehold interest of a property and coordinate the provision of facilities to the residents in the communal parts of that property. These companies are usually run by the residents as shareholders and often also as directors, despite frequently having little or no experience of how to run a company. Of course, with a little guidance no previous experience is necessary.
Craig Halligan and Robert Sprawson, solicitors from the firm’s Company Commercial Department, recorded a podcast (at the Leasehold Advisory Service’s offices) in July 2014, aimed at directors and shareholders of freehold management companies. The podcast covers various topics including administration and operation of these types of companies.
The Leasehold Advisory Services is a non-departmental public body funded by government to provide free legal advice to leaseholders, landlords, professional advisers, managers and others on the law affecting residential leasehold in England and Wales.
Access to the podcast can be found on this link: http://www.lease-advice.org/publications/documents/document.asp?item=155
If you would like advice on running your freehold management company, please contact Robert Sprawson who would be more than happy to talk you through some of the issues.