What is a Management Company?

A management company, often known as an RMC (Residents Management Company) may be set up primarily for one of two reasons:

– to take on ownership and responsibility for what is termed communal open space within a housing development which may or may not include unadopted roads, footpaths and/ or street lighting.

– where an apartment complex exists, the management company is set up to take ownership of and responsibility for all communal areas such as stairwells, hallways, unadopted car parking areas and gardens. The management company is also responsible for insuring the building or apartment block as a whole in the event of unforeseen incidents such as fire, flooding, etc.