What is a TMO?
A Tenant Management Organisation (TMO) enters into a legal management agreement with the landlord.
Shareholders of a TMO elect a board to run the organisation.
The TMO is paid annual management and maintenance allowances to carry out their delegated management duties.
Services managed by each TMO vary, but may include:
- day-to-day repairs
- allocations and lettings
- tenancy management
- cleaning and caretaking
- rent collection.