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What is a Management Company?
Residential apartment blocks and their grounds, office parks and multi user commercial developments are generally controlled by a Management Company in which all the common parts and services within the development are vested in the Management Company. The purchaser of a unit in such developments becomes a member of the Management Company.

The Management Company belongs to the members and has responsibilities to its members and the members in turn have responsibilities to the Management Company.

These responsibilities are set out in the Management Company’s Memorandum and Articles of Association and in the Lease agreement entered into by the members on purchasing their unit.

Generally the Management Company is responsible for the maintenance and upkeep of all the open spaces and services within the confines of a development. It is also responsible for the maintenance and upkeep of the built development not vested in any one individual.

The Management Company, as a limited company, is controlled by a board of directors usually drawn from its members. In the initial stages of a development the Management Company is controlled by the developer and or his nominees until all units are sold when the company is handed over to the members who elect their board.
What are Managing Agents?

Managing Agents are employed by the Board of Management, where the Board does not wish to undertake full responsibility itself for the day to day management of the Company.

The Managing Agents are not the Management Company they are simply the servants of the Management Company. A good firm of Managing Agents will endeavour at all times to see that the Company honours its obligations to the individual owners and that the individual owners, in turn, honour their obligations to the Company and each other.
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