• A Management Company must be incorporated in multiple unit developments to provide the legal structure to allow the transfer of ownership of the common areas to the purchasers and to maintain these common areas to the future, be they apartment blocks, townhouses, retail or office developments.
• When all units in a development are transferred to the new owners the managment company is normally tansferred by the developer to the new owners who elect their own board of management. As individual properties are sold the new owner becomes a member or shareholder in the management company as part of the transfer of title.
• All common parts and services within any complex must be vested in a management company.
• Each owner is a Member (or shareholder) in this Company.
• The Company, is responsible for the maintenance and upkeep of all common areas, open spaces and services relating thereto.
• A Board of Directors or Board of Management manages the company like all Limited Companies.
• All the owners individually have responsibility to the Company to perform certain obligations set out in the agreements i.e. payment of service charges etc.

For more information regarding our services please contact us.