What is a management company responsible for?

A management company is usually formed by the developer of a block of flats or the residents themselves. It is a bone fide company registered at Companies House with associated Directors. It is formed to ensure the running of the block has an accountable legal entity whose main aim is to ensure the smooth running of the block within the financial constraints of a service charge budget which is normally agreed by all residents at least 12 months in advance.

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