Property management companies are incorporated in order to manage a building or site in the interest of its owners, hence acting as an intermediary between the landlord and tenant(s). This kind of incorporation is usually formed to manage a property or group of properties inhabited by multiple tenants.
Some of the responsibilities of a Property Management company include securing rent, promoting vacancies, undertaking and handling maintenance problems as well as construction and repair on a property, and checking on potential tenants' credit histories and backgrounds.
As compensation for the duties they perform, landlords pay property management companies a fraction of the gross rent they collect monthly, as well as commissions on lease. Some property management companies also charge for repairs done due to maintenance (if decided beforehand in the management agreement).
The Memorandum and Articles of Association of a Property Management Company are specially drafted. This enables the company to possess and manage a freehold property, usually comprising of several flats or lodging units, with each leaseholder possessing a share in the company.
Forming a new Property Management company is now a simple, hassle free process using our online, electronic system. Formations House also provides the fastest and most efficient service, as well as offering the most cost-effective pricing. Our online incorporation service includes:
- Online incorporation of a property management company at Companies House
- Company Incorporation Fee
- Hard copy Certificate of Incorporation
- Memorandum and Articles of Association specially drawn for Property Management Company
- Online PDF versions of company documents
Minimum requirements to form a Property Management company in the UK:
- Registered
address within the UK i.e. any
valid postal address in England,
Scotland or Wales.
- A minimum
of one entity, i.e., 1 company
director is required. Appointment
of a company secretary is optional.
A company's sole director can
also be the company's secretary.
Required Details:
Following details are required for company incorporation:
- Proposed company name
- Registered address i.e. any valid postal address in the UK
- If the company director and secretary are individuals, their Name(s), address(es), date(s) of birth, gender and nationality(ies)
- If the company director and secretary are other companies, the Company names, registration numbers, date(s) of registration and registered address(es)
- Share allocation structure
Cost:
This service costs only £150. No additional costs apply unless any additional services are selected.
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