Property management companies typically manage common areas of blocks of flats, housing estates or commercial properties divided into units. The property managed can be either residential or commercial. The company will either simply hold the title deed of the property (and otherwise be dormant) or take responsibility for maintenance and repair of the fabric of the common areas, for example access roads, stairways, gardens, roofs and gutters.
Limited by shares
The company setup is the same as that of a private limited company: the company is run by a board of directors elected by shareholders. The shareholders are the residents/owners of the property units. They would either have equal shares meaning equal votes when there are decisions to be made, or a number of shares in proportion with the size or number of unit(s) they hold.