A Management Company is set up by the Developer in order to satisfy the Planning Department when seeking planning permission.

This company is then responsible for ensuring that suitable arrangements are in place for the future management and maintenance of areas of open space and internal communal areas. These areas of open space are provided as an integral part of new residential developments, and they must be maintained within the principles of environmental conservation.

As a limited company the management company must comply with basic company legislation - i.e. maintain a company register, hold an AGM, elect a board or directors, record minutes etc.

Initially, the management company is established by the developer, but the individual owners of the properties become shareholders, and pay an annual service charge. This charge, which is set by the managing agent, and is agreed by the shareholders at their AGM, is based upon the total maintenance and management costs of the development's communal areas.

AK Property Management forms the company and then carries out all the administration of the Management Company in line with the regulations set down by the Planning Office and Company House.

All services are carried out to a high standard, with properties being maintained and inspected on a monthly basis. This not only helps properties increase in value, but also enhances the overall value of the development and the reputation of the developer.

We are currently managing developments throughout Northern Ireland and Donegal.