I am the owner of a flat with a share of freehold along with 4 other flat owners. The freehold is kept by a management company in which we each have a share and we are all also directors of that company. We manage the upkeep and maintenance of the property ourselves inhouse. The current company secretary (one of the other flat owners) wants to pass on the role to one of the other directors. I was thinking about volunteering for this position as no one else seems willing. I have a reasonable idea of what it entails but was wondering about the following:
The workload of the management company is split very unevenly with two of us doing the bulk of the work. The other flats are all rented. Given that the administrative burden of running a company such as this has increased over the years, should we be seriously thinking of outsourcing the management of this block to a professional firm?
If we were to continue in house and I take up the company secretary role, what legal responsibilities would I hold?
Should I charge for the time I spend doing the job as it seems unfair for me to work for free when other owners do absolutely nothing? Is there any other way I could receive compensation (ie through expenses incurred?). However, if I do charge, am I then responsible for any errors that may occur?
What repercussions could there be if I make a mistake - could I be sued if I make a mistake that ends up harming the company or current residents?
I am happy to take on the administrative work of running the company itself. However, I am reluctant to be responsible for filling in documents on behalf of the management company when other owners sell/buy their flats. This involves filling in lots of paperwork and answering solicitors’ questions on behalf of the management company which can be time consuming and tedious. I also do not wish to be held responsible should any information I declare be unwillingly incorrect. Can others shed light on how we could manage this paperwork without it falling to one person (the company secretary)
I would be grateful if others on this forum could give their thoughts about this matter? I am happy to take on the administrative role of company secretary but am concerned about the legal responsibilities and responsibilities for any mistakes made.