Technology1 min ago
Management Companies
This relates to law in Ireland. No one on our estate will go forward as director of the estate management company and if we don't a private company will be hired who can then charge us huge fees. I would do it but I can't seem to find any information on what me responsibilities as a company director would be so do not want to sign up for something I don't understand. Anyone from Ireland had similar experience?
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i dont know if it would be helpful for me to tell you my position (england) I became a company director of our managemment company for our flats, basically because the current directors were lazy and i wanted the grass cut and the windows washed. I had to fill in a form whereby i registered myself and sent it to companies house (you couldnt do it if you had been bankrupt before)
we had some liability insurance in place because as far as i recall if i made a decision that made the flats fall down i could be personally sued .. although the insurance we had got around this. When i left i just let companies house know i was no longer a director.
We also had a management company to help us, and paid them 300 pounds each flat each year and out of this they organised and paid for window cleaning, repairs etc, and put the rest in a sinking fund so we didnt personally have to collect the money and manage it. Their fee was a small percentage of this. The only thing we had to do as directors was make final decisions on quotes they had obtained, and organise yearly residentrs meetings, and act as direct liaison between the residents and the company
we had some liability insurance in place because as far as i recall if i made a decision that made the flats fall down i could be personally sued .. although the insurance we had got around this. When i left i just let companies house know i was no longer a director.
We also had a management company to help us, and paid them 300 pounds each flat each year and out of this they organised and paid for window cleaning, repairs etc, and put the rest in a sinking fund so we didnt personally have to collect the money and manage it. Their fee was a small percentage of this. The only thing we had to do as directors was make final decisions on quotes they had obtained, and organise yearly residentrs meetings, and act as direct liaison between the residents and the company
If by Ireland you mean the Republic of Ireland then there is a great deal of information here .
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