The purpose of employing a managing agent...

PMMS were the managing agents employed by GMM around 2006 to ease the directors workload and advice the directors on how to tackle GMM issues/responsibilities. PMMS were selected because they were willing to manage the mews within our budget constraints. In early 2010 PMMS served notice to GMM and Galbraith Property Services were employed in July 2010. We need to employ a managing agent because:

1. The directors are not remunerated by GMM and work for free which means that the time they can spend on GMM issues is limited
2. The directors don't have all the necessary specialist skills to carry out GMM's legal responsibilities as detailed in your lease. For example if the directors are negligent then not only can they be held personally responsible but GMM may be open to litigation which would impact all lessees financially as you are all shareholders in GMM
3. It's in the interest of all lessees that the directors are shown to be acting in good faith by seeking specialist advice from a managing agent or other entity as and when required

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The mews main web page can be viewed here:
http://gatewaymews.blogspot.com/2009/07/web-page-for-gateway-mews-residents.html

Lakshman (3)

GMM