The freehold of the communal areas and apartment blocks is owned by the London Yard Management Company Ltd whose shareholders are the 312 property owners. The shareholders elect a Board of Directors who, in turn, collect ground rents; appoint managing agents; set the service charge; administer the code of conduct, including the parking scheme; maintain and renew the infrastructure and ensure compliance with the leases. The Board of Directors are not paid for their efforts.

London Yard Management Company –

Call for new Directors

There are a number of vacancies for new Directors of London Yard Management Company (LYMC). The Board invites all interested eligible owner-residents to nominate themselves by submitting their names to Jonathan Channing at DGA (tel: 020 8420 7676; fax: 020 8420 7675; Email: jonathan.channing@david-glass.co.uk).

Elections will be held at the forthcoming AGM, probably in January 2002 so please submit nominations by 7 December 2001 (I am sure there is some leeway on this date - Editor) to enable them to be included in the AGM notification. In addition, the Board has the power to co-opt new Directors at any time.

Here are some FAQs which might help if you are thinking of nominating yourself as a Director. If you would like further information about becoming a Director, please contact Jonathan Channing or any of the Board – contact details below.

What is LYMC?

LYMC is the company which owns the freehold to London Yard (with the exception of those houses that own their own freehold). All leaseholders/freeholders own one share in LYMC – it is your company.

Am I eligible to stand as a Director?

All LYMC shareholders are eligible to stand as Directors unless they are in arrears with payment of service charges or other monies owed to LYMC or involved in a legal dispute with LYMC. Tenants of leaseholders are not eligible.

What does LYMC do?

The company has responsibility for all aspects of the management of London Yard, from deciding on new planting in the gardens to choosing new décor schemes for communal areas to managing security. LYMC favours schemes to improve the environment and community spirit of London Yard and financially supported the beach cleaning which took place last year. The Board encourages all residents to participate actively in the discussion of issues affecting life in London Yard and created the original London Yard website.

What is the role of the Directors?

Directors are responsible for managing an annual budget of around £1/4m. With the help of professionals, they plan the work that needs to be done on the development each year. Ultimately, the Directors are responsible to the shareholders at the AGM for their decisions.

Do I need any special qualifications to be a Director?

No. Provided you satisfy the eligibility requirement above, you are welcome to nominate yourself as a Director. LYMC Directors come from all walks of life and the Board values diversity reflecting the mix of residents on the development.

Will it take up a lot of my time?

No. Board meetings are held one evening a month, less frequently if there is no business to discuss. The day to day management is subcontracted to our managing agents, David Glass Associates (DGA) who prepare tenders for works to be done, supervise contractors and report back to the Directors - so you won’t be expected to sweep the streets! Between Board meetings, DGA communicates as necessary with Directors, usually via email. Directors with a special interest are encouraged to take responsibility for that area. For example, over the last few months, Malcolm Hilson has worked closely with the new gardening contractors.

What’s in it for me?

Directors of LYMC are not paid, although Clive does provide free spring water at Board meetings which are held in his offices on Amsterdam Road! But by becoming a Director of LYMC, you will have the satisfaction of knowing that you are directly contributing to the life of our community by influencing the environment in which we all live.

Other questions?

For further information on becoming a Director, contact Jonathan Channing at DGA (020 8420 7676) or any of the current Directors