Getting rid of RMG

addedvaluebob

OH has two BTL properties in a block that is supposedly 'managed' by RMG. (Residential Management Group Group) They have been a nightmare since day 1, the story is way too long to post everything they have done.

How easy is it to get rid off them and find another company? RMG are technically employed by a residents association formed as a limited company of which OH is one of only two directors as no-one else could be bothered. As a director can she just give 'notice to quit or termination of their contract or does she need a percentage or majority of the residents.

What happens to the reserve fund.

I am also looking for anyone else who has suffered at the hands of this company with a view to putting together something in the media that may serve to warn other people . Every year they seem to find things to do that they 'repaired' the year before such as refitting the door closer three times in five years and at one stage they tried to charge an annual electricity bill of £4,800 for eight low energy bulbs.

Any help or info would be really useful. Thanks

nidO

Can't offer any helpful advice on how to get rid of RMG (I would assume the decision on the management company used is ultimately down to the directors of the resident's association, so if your OH and the other director are in agreement about getting rid of RMG you're probably a good way towards being able to do so) but my experience with RMG is slightly different.

They manage a fairly large development which has a flat I own on it, and while they are expensive to the point of largely being a con (though this pretty much sums up the entire nature of the property management business, so it's not like you're going to find anyone better) they do at least get things done promptly on our development, which is more than can be said for a lot of management firms, who'll happily extort fees while not even actually doing the work they're meant to be.

G_M

The first port of call is clearly the contract between the Resident's Ltd Co, and RMG. What does it say?

The second is the articles of association. What do these say? For example you may need a vote at a meeting of all shareholders (residents), and/or quorum of participants. Or it may as you say be a decision the Directors can take on their own.

Having watched someone go through the process recently, I'd make sure you have a clear idea before you start of RMG finances. How much of the residents' money do they hold? where is it? Have they collected some/all of this year's service charges? What expenses have they incurred? What expenses might they claim they've incurred.

Get to grips with all that first, whilst relations are reasonable (which they won't be once you write firing them!)

addedvaluebob

G M thanks for the response. Will try and plan to get rid of them at year end to minimise the amounts that are in the process. Normally they start collecting the fees around Feb/Mar over a six month period so should be fairly easy to make a clean break.

CarlyACG1980

Interested to hear how you got on with getting rid of the robbing management group ("RMG")!!!!!


Please share!!