Structure of Flat Management Company
I own one of 3 flats in an old terraced property and I also have a share of the freehold. The individual flats are on 999 year leases.
Up to now the property has been managed on a fairly casual basis, and there have been ongoing disagreements regarding maintenance, cleanliness and general rules about what can and can't be left in common parts, which makes decision-making pretty difficult.
In order to get some structure and rules in place we are considering the formation of a flat management company. I'm considering the best structure for such a company i.e. whether it should be limited by shares or by guarantee, the constitution of the company and whether this company should own the freehold.
Any thoughts, observations or advice would be most welcome.
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