Register a Limited By Guarantee Company - Flat Management Article

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Ltd company with flat management articles(limited by shares)

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 private limited 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, share certificates, company register with first entries, minutes of meeting)
  • Registered office (London, HA4)
  • Director service address (London, HA4)
  • Director’s address protection
  • Web authentication code
  • Printed copies of official documents
  • Corporate hijack protection
  • Pre-submission review

Optional free extras

  • Free business bank account (with cashback offers)
  • 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 domain name
  • Free online company manager account (web portal)
  • Free customer support for the life of your company

Ltd company with flat management articles(limited by shares) - £49

Ltd company with flat management articles(limited by shares)

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

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Mint Formations Limited, College House, 2nd Floor, 17 King Edwards Road, London, HA4 7AE

Company Reg. No. 10771070 Vat Registration Nr: 269 1733 76

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