A Flat Management Company is normally incorporated to manage a property or group of properties where there are multiple tenants.
A Flat Management Company is normally used to protect the interests of the leaseholders.
A Flat Management Company has its Memorandum and Articles of Association specially drawn up to allow the company to own, manage and administer a leasehold or freehold property, which is normally divided into several dwelling units or flats, with each leaseholder owning a share in the company. The leaseholder will be obliged to transfer the ownership of the share to the new leaseholder when disposing of the property.
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