Residents’ Associations advantage the property management process
On completion of a development and once all properties are sold, lpm call an Annual General Meeting to allow homeowners or their appointed proxies, the opportunity to meet lpm representatives to learn more about and discuss what is happening at their development. AGM's are usually held on an evening between 6:30pm and 8:30pm at a venue close to the development.
In our experience, developments operate better when a Residents’ Association Committee is in place, as the decision making authority essentially falls to the Committee members. lpm representatives meet with Committee members on a quarterly basis to discuss and assist with property management matters concerning the development.
The formation of a Residents’ Association is usually agreed at an AGM. In order to do this, the meeting must be quorate and a majority of the attending residents must agree to the formation.
lpm Estates Managers can assist with the formation of the Association and can provide a Constitution document that sets out the rules as to how the Residents’ Association should operate on behalf of all homeowners.
A Residents’ Association is an extremely valuable asset to any development. However, in the event that developments cannot get sufficient numbers of residents to form an Association, the option is to set up a Steering Committee, which is an informal working group with whom the Estates Manager communicates on a regular basis and meets twice per annum.
Contact firstname.lastname@example.org to find out more about forming a Residents' Association or Steering Committee.
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