Nominations for Resident Directors – NOW OPEN

By Nige on May 6, 2024 at 4:05 pm
Type: News Category: Residents
Tags: Announcements | Management Company | Resident Directors

As we explained in our Handover Update on 01 May 2024, we (the residents) need to organise ourselves during May ahead of the EGM. That means we need to:

• Work out who will become Resident Directors at the EGM.
• Hold our first unofficial meeting of (prospective) Resident Directors to plan how the EGM will be handled.

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Why do need to do this BEFORE the EGM is held? We need to make sure the prospective Resident Directors are all singing from the same hymnsheet and they secure agreement to a number of resolutions to be presented at the EGM. Those resolutions include:

• Electing Resident Directors.
• Serving notice to FirstPort (and Innovus).
• Engaging with a new Managing Agent (MA).
• Initiating the formal transition process from FirstPort (and Innovus) to our new MA.

Nominations

If you would like to become a Resident Director, please get in contact with TDRA before 10pm on Friday 17 May 2024.

What is Involved in Being a Resident Director?

We have provided some guidance on our Management Company page. It shouldn’t be too onerous, but Resident Directors will be taking on responsibility for running the company, including taking on legal obligations under the Companies Act 2006.

We need up to 5 Resident Directors to oversee the running of the Management Company. Any more than that, and it could turn into a bun fight!

What Happens after Nominations?

Depending on how many residents put their names forward to become a Resident Director, we may need to vote to select the residents we would like to become Resident Directors, or we may simply need to vote to confirm we are happy to support the nominations put forward.

Either way, we will need to secure support from the majority of homeowners to our proposed Resident Directors.

Other Questions?

Just get in contact with us and we will do our best to provide answers.