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What is a Residents Management Company?

Wilson SP Kitchen

All developments have common areas/shared spaces such as private estate roads, play areas and open green spaces that would once have been adopted and managed by the local council.

For some years now, local authorities have been imposing various restrictions as part of the adoption process which in many instances has meant that the council will not take on this responsibility.

These areas do, of course, need to be managed and maintained. As your developer it therefore becomes our duty to designate these “common areas/shared spaces” to all homeowners, and to create a means by which this can be protected and managed once we have finished construction.

The way we do this is by setting up a Residents Management Company (RMC) for each development, initially with a company director from both Cameron/Galliers and the Managing Agent.

As homeowners reserve with us and following completion of the purchase, they legally become a member of the RMC subject to the provisions of the plot sale transfer and such information which is provided to your solicitor as part of the conveyancing process. This means that you have a say in how the RMC is run.

If you sell your home your legal responsibility as a member of the RMC passes by means of contract to the new buyer.

Please be aware funds are collected on completion and then twice yearly to start building up the sinking fund