Hello, I'm tearing my hair out here and could do with some knowledge/advice!
I own a leasehold flat in a building of 4 flats. A management company was set up many years ago and I am a director, along with the other 3 tenants and the owner of the building (freeholder).
The four flats pay a set amount into the bank account each month, to cover any necessary repairs, electricity/main entrance/cleaning of communal areas. All ticking along nicely.... until...
The freeholder has now notified us of his resignation from the management company. I don't know where this leaves us remaining directors in the situation where for example the building roof needs repairing. Normally he would arrange all of those works and it would be paid by the management company funds. Who's responsibility is it now? He might not be part of the mgt company but he still owns the building/freehold!