Joint freeholding shareholders should also be Directors?

Hello, We have an Annual General Meeting (AGM) coming up and possibly 2 (more recent appointees) likely to resign as forthcoming building works might mean some actual input (eg getting redecoration quotes; liaising with fire alarm installation contractor; being the Fire Safety “Responsible Person” to weekly test fire alarm etc etc) and one selling their flat.

Would it be a way forward, for the benefit of the building, and current/remaining Directors, for ALL Leaseholders/Shareholders (no joint Leaseholders as all singles) to now become Directors?

ALL Leaseholders are Shareholders so have a vested interest in the building, both in compliance, organisation and aesthetics.

Here is some background:  8 flats in a converted (converted 1975 & 1986) Edwardian detached building. 3 owner-occupied, 1 family member occupied and 4 tenanted. All Leaseholders live within a 30-minute drive, bar 1 (100 miles away).

Freehold purchased jointly in 2003 and Ltd formed, comprising 4 Company Directors and Company Secretary (also a Director). Ltd legal entity with 1 Director and 1 Co Sec (who can be the same person) under Articles of Association (AofA).

Every flat (Leasehold) has 1 Ltd company share.

Over time, Leaseholders have changed, and Directors (bar 2) and co-secretaries have also changed. Still 4 Directors with 1 Director, also the Co-Sec.

Using an outside management company would at least treble the monthly service charge. More importantly would then require sticking to the lease’s exterior and communal internal re-decoration time scales, etc., which Shareholders have all agreed to carry out when needed, not when stipulated.

Any thoughts please?

Thanks,

Judith

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