Albany Wood Management Company Ltd. (AWMco)

 Homeowners as Members and Directors of the Company 

Shared Property Home Owners -membership

Many shared property owners were not been made aware,( at the same time as Freehold Home owners)  via their of the handover letters and invoices that were sent out by SPAMco. It turns out Abri,  their landlord, have been informed by SPAMCo. but have/did not passed that information to the shared home owners. Therefore these homeowners (and may be others groups) are not aware of their expected charges for 2024 and now increase 100% for 2025.

They also are therefore not aware that they are now (non voting) members of AWMco,  

SPAMco  feedback on this matter : Abri is the freeholder of these properties, and its customers are leaseholders. We have sent letters and invoices to Abri, who will manage these on behalf of their customers. Abri will pay the service charges and then recharge their customers, this is the standard procedure for shared property ownership. Shared ownership leaseholders can also become resident directors of the management company if nominated by other shareholders. For more information, please click this link.

In our experience, developers take 4-6 years or sometimes less, to fully complete sites in accordance with planning conditions, after which they transfer communal lands to the management company. Once this transfer is complete, the management company’s secretary will contact all freeholders, inviting volunteers interested in being elected as resident directors. It is a lengthy process.

Nomenclature of Status -supporting laws implications

Duel Leaseholders

Their Home and the Estate 

Freehold Home Owners

Description of process from SPAMCO

Unfortunately, we do not have a timescale for this. The obligations of Crest Nicholson are determined by the local authority, and we are not involved in this process. Once they have met these conditions, Crest Nicholson will notify us that the solicitors are ready to transfer. We will write to all owners requesting volunteers (the number of volunteers is set in the article of memorandum). When the completion of the transfer has happened, we will write to the volunteers to confirm their appointment as Resident Directors. At this time, a meeting will be put to the Resident Directors to meet the property manager and go through their obligations as a Resident Director.

Nomenclature of Status -supporting laws implications

FREEHOLDERS  of their homes and LEASEHOLDERS of the Estate