Everyone likes to feel in control of their lives, both in a professional and personal capacity. Where you live is certainly one of the most important aspects in anyone’s personal life and, if you pay a service charge, becoming a director for your place of residence brings a great deal of control and security. Many developments operate a system whereby there is a management company which is written into your lease and they are responsible for carrying out the landlord’s covenants (such as the cleaning, the gardening and all the communal items).  Some developments have a Right to Manage system in place, but with either of these systems, you can opt to become a Director of the board.  This will give you and your neighbours more of a say in how your service charge money is spent and what happens on your development.

Directors can view financial statements, be involved in setting spend limits, approve costs, set budgets and be part of the decision-making process toward the upkeep and maintenance of their development. You may be surprised at just how easy it is to become a director.  Depending on the Memorandum and Articles of Association (known as the Mems & Arts) for your management company, you could be signed up to be a Director of the board within a week.  By contacting your current managing agent, you can ask them to review the Mems & Arts and advise you of the process for your development.  Every development is different, but it is then normally a simple case of filling in a form and your managing agent/company secretary will do the rest for you.

There are of course, responsibilities that come along with being a Director, but this should never put you off joining the board.  Your experience and skills will benefit your development more than you realise! More can be found out about being a Director on the Leasehold Advisory’s website where there is a great podcast about it all.  

Some people tell us that being a Director of their management company takes up too much of their time or is too much work. We at Concordia Residential enjoy meeting our residents and always encourage the taking up of directorships.  It is your money and your home after all, and we want you to be involved.  With the right managing agent and the right service package, it should never take up too much of your time – that’s what your agent is there for.  We believe in the harmonious, democratic running of people’s homes and understand the importance of sound leadership and proactive management for your development.  We do, of course, have to follow the lease and the law, but a resident’s input and decision making as a Director is invaluable. 

Concordia are always delighted to offer consultations – free of charge – to folk wishing to become directors. We can review and explain your lease and your Mems & Arts, along with any legal issues.  We feel it is time well spent to ensure directors have a sound understanding of how their involvement helps, which will only result in a confident, smooth management process moving forward.