Software for self-service freehold management

[owenking]

Hello all,

My company is looking to develop online services for landlords and leaseholders and I would really appreciate your feedback on our ideas.

One area I feel is not well provided for is freehold management (i.e. where there are multiple leasehold flats in a freehold property) and my understanding is that where leaseholders jointly own the freehold they will either:

(a) Run their own freehold management company (usually setup by a solicitor)
(b) Appoint a managing agent

Research so far suggests that people who do (a), especially for the first time, find this complicated and onerous and those who do (b) often feel ripped off!


Our initial thoughts are that we could provide an online service that automates many aspects of running a freehold management company, removing the need for a managing agent. This would really be most suitable for small blocks/converted houses which would normally sort out their own maintenance etc. between the flats and could perhaps do the following:

• Interface automatically to Companies House to appoint directors/secretaries and file annual returns
• Arrange and produce minutes for "virtual" company meetings by email, recording resolutions
• Request and track payments from leaseholders
• Prepare annual accounts

Do you feel that this would be a useful/valuable service?

Many thanks,

Owen.

[a1mcj]

Dear Owen
I own a freehold property with two leasehold flats in it, your proposal is exactly what I require as have a great team of builders etc to quote for maintainance I just need the legal framework to be solid.Can I be your trial client to test your idea out.
Many Thanks
Michael
07976 716640

[owenking]

Michael,

Many thanks for your post - apologies for the delay in replying to it.

Certainly if we go ahead and prototype this service I'd be delighted if you were able to trial it - I will keep you updated.

May I ask how you are currently managing the legal aspects of the property? Do you do this all yourself or use an accountant/agent? If the former, it would be very useful to get a rough idea of the amount of time you have to spend on this.

Thanks again,

Owen.