- Category: People Interests
- Published: Tuesday, 26 June 2018 20:45
You may well come across references to ‘management companies’ within property management, particularly with multi-use properties where this middle-entity can often crop up.
Now, one thing they are not is a ‘managing agent’, which can cause confusion. A managing agent is a separate agent that is simply instructed to carry out a service for a property interest, which might happen to be a management company (often abbreviated to a ‘man co’).
On the other hand, a management company has a legal interest in a property, maybe holding the freehold of the land or long leasehold interests.
An Example to Help Explain
So, imagine you have a block of six flats, or six office units if you’re dealing with commercial property. At this level...Write comment (0 Comments)