Challenges for Self-Managing Small Blocks

• Many small flat management companies are likely not complying with the Companies Act, especially when it comes to holding Annual General Meetings (AGMs) and handling legal paperwork. Over 60% of leaseholders struggle with the complexities of managing a company effectively.

Hope for Change with the Companies Act 2006

• From April 1st, 2007, the Companies Act 2006 will make managing small blocks easier. For example, private companies will no longer be required to appoint a secretary, hold AGMs, or disclose directors' home addresses, streamlining the process.

New Rules for Private Companies

• Private companies will no longer need to hold AGMs unless they choose to, pass resolutions by written resolution, and use electronic communication (email/websites) to interact with shareholders. The new rules aim to simplify management tasks for small companies.

Self-Managing Blocks Need Help

• A recent survey by Ringley Group found that the legal complexities of self-management are one of the top concerns for leaseholders. Over 60% of leaseholders fail to properly manage company formalities like holding AGMs.

Ringley Group’s Solutions for Small Blocks

• The Ringley Group has developed LeaseholderSupport.co.uk, which provides resources for self-managing leaseholders. It offers two packages: Block Care 100 (no win, no fee service charge arrears management) and Block Care 200 (additional support for legal matters, company formalities, and free year-end service charge accounts).

Block Care Guarantee

• LeaseholderSupport.co.uk offers a Block Care Guarantee, promising that their services are cheaper than hiring a managing agent or offering a money-back guarantee. Their goal is to help leaseholders navigate management headaches step by step through guides, factsheets, and interactive tools.