Alexander Faulkner Partnership are often asked for their advice by Developers in connection with the management structure for new developments. This leads to us creating Resident Management Companies that can be party to the new leases.
These new companies can be created Limited by Share or more normally Guarantee. We then assist with the smooth transition from Developer control to residents, often facilitating a “shadow board” comprising interested owners who can see what is involved with the administration of the service charge and property management of the development.
Where new schemes comprise a range of private residential and Housing Association stock we can personalise the Memorandum and Articles of Association of the new companies to reflect proportionality between the tenures and thus create a sustainable democratic structure for the future.