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Limited by guarantee company with flat management articles

A company set up under the companies act to operate for the benefit of residents (or tenants) rather than run as a business for profit is known as a flat management (or property management) company. It is sometimes called a right to manage company, so that residents can jointly run a property such as a block of flats.

Flat management company can be either incorporated as a company limited by shares, or a company limited by guarantee. Either of the company types, offers limited liability for its members, subject to the company trading properly with the usual caveats in the insolvency legislation.

Limited by shares or limited by guarantee?

The main advantage of using a guarantee company is that no stamped (or stamp exempt) transfer is needed on changes of members (on sale of the related lease). The articles can simply provide for the membership of the outgoing lessee to terminate automatically when they cease to hold the lease. There is no need for any document to be signed by that member giving up their membership. The new owner of the lease can then be added to membership in the place of outgoing member.

The limited by shares company is normally designed for profit-making enterprises, but with correctly drafted articles it can also work well for flat management companies. When property changes hands, the leaseholders' related share should be transferred by a stock transfer form and is recorded in the register of members. This can be done with just a token payment and no stamp duty is payable.

What else are required?

An arrangement must be made to deal with the running, repair and maintenance of the common parts of the building. The leaseholders of the flats act as members of the company and one or more will be appointed to act as directors and one will usually be the company secretary. They can also appoint an agent to carry out the day-to-day work, or one may be specified in the leases with the freeholder.

Please note the residents who have agreed to become directors will have legal responsibilities. You must send details to Companies House about specific changes to the company when you make them, like adding or removing directors, the company’s annual accounts and file confirmation statement every year.

If you want detailed advice on this, including dealing with the landlord, please contact the leasehold advisory service.

What’s included in this package?

  • Formation of new UK limited by guarantee company
  • Flat management articles of association
  • Super-fast online service (no signatures or paper work)
  • Digital copy of all company documents (certificate of incorporation, memorandum & articles of association, company register with first entries)
  • Web authentication code
  • Printed copies of official documents
  • Pre-submission review

Optional free extras

  • Free business startup and marketing guides
  • Free consultation with accountant
  • Free £75 Google AdWords voucher
  • Free business phone number
  • Free digital marketing consultation
  • Free .com or .co.uk domain name
  • Free online company manager account (web portal)
  • Free customer support for the life of your company

Limited by guarantee company with flat management articles - £49

Incorporate your new limited by guarantee company with flat management memorandum and articles, using our online registration system.

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I live in Holland. I went to the Companies House website and downloaded the application. There was so much to fill and many questions. I was worried about making mistakes. So, I searched Google and found Mint who does everything online. They have a very easy to use Website with clear instructions. I completed my application in the night and the next my new company was formed. Simple and quick.

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