Residents' Association Law Pack
Looking to manage your long-leasehold property more efficiently?
Pro-Leagle's Resident's Association Law Pack enables you to prepare all the documents required to form a Residents' Association. The pack comprises:
- Specialist Residents' Association Constitution
- Policy for Handling Money
- Code of Conduct at Meetings
- Template Minutes of Meeting
Using the online option, all of these documents can be automatically filled in by entering only a few key details. The documents update as you type, giving you a clear preview of the end result.
Why start a Residents' Association?
- Setting up a Resident's Association means that long-leaseholder residents who did not participate in Right to Manage or Freehold purchase can join the management process. Management can be more harmonius if all residents are involved.
- You may be paying a yearly fee for your management company bank account. Moving the management to a Residents' Association gives you access to fee-free bank accounts.
- You may currently be paying an accountant to submit yearly company returns. If you manage the finances through a Residents' Association, no money will pass through the Right to Manage or Freehold company. You can then file dormant company returns with Companies House. This is a much simpler process, and you may be able to do without an accountant altogether.
- Management rules can be much more flexible with a Residents' Association. Unlike Right to Manage or Freehold companies relevant documents to not need to be filed with Companies House. They can hence be changed at any time (subject to members' agreement).
Summary of Terms & Conditions and Disclaimer
- You and your fellow leaseholders must already have management rights over your long-leasehold property through either a Right to Manage company or a Freehold company.
- This law pack covers the establishment and running of a Residents' Association. It does not provide guidance on bookkeeping, accounts filing, tendering maintenance contracts or any other aspect of property management beyond the Residents' Association.