F lat management companies are used to manage a collection of associated leasehold or freehold residential or commercial units. This refers to blocks of flats, shopping centres or housing estates.
Each owner will either hold a share or become a member which gives them voting rights in proportion to the number of units they hold. They must transfer all their shares or be removed from being a member if they sell their unit.
Often, the leaseholders or residents run the units of a freehold property.