Lettings Direct - Letting Agents, Property Management Specialists and Buy to Let Experts.
A Block Management Company is a firm that is appointed by the freeholder of a property to manage that property on their behalf.
In the case of residential leasehold property (subject to the lease permitting such an appointment) the managing agent contracts with the freeholder to manage the property in accordance with the terms of the lease and statutory requirements. The freeholder may be an outside investor or, indeed, the lessees themselves in the form of an RMC.
It should always be remembered that the Block Management Company is only the agent of the freeholder or the person/organisation with legal responsibility for the management of the property, thus the ultimate responsibility for the full and proper management of the property will always remain with such a party.