Distinguishing Managing Agents from Management Companies

TBD

Managing Agents:

generally for-profit
almost never (ever?) public limited companies
operate at multiple sites across the country
would tend to have SIC codes like 68320
individual homeowners would not be members/shareholders
file accounts which show they are companies operating with employees, own assets and cashflow
tend to have their own websites and branding

Management Companies (particularly Residents Management Companies):

generally not-for-profit (company limited by guarantee, or company with shares but with a ban on profit distribution)
articles of association restrict objects of company to managing/owning a specific site
membership tends to be "referrable" to ownership of flats / houses at a specific block or estate; a very common pattern is for "dwelling" and "dwellingholder" to be defined in the articles, in relation to a specific site
membership might not be easily able to be resigned/refused
provisions for mortgagees and executors to become members if they end up owning the referrable home
would tend to have SIC codes like 98000
tend to be dormant companies without own assets, employees or cashflow
tend not to have own websites or branding or contact information
may well have a company name that reflects the site managed, e.g., "Little Bowden Rise (Market Harborough) Management Company Limited"
may have "golden share" provisions that are triggered by home sales

MCs would tend be the customers of MAs; never the reverse