An owners’ management company (OMC) usually looks after an apartment development’s shared areas, insurance, maintenance and long-term repairs. Buying a unit will commonly involve becoming a member or shareholder of the OMC and paying service charges, with amounts depending on the development’s costs and financial position. Before committing, review its recent accounts, budgets, AGM minutes, service-charge history, sinking-fund arrangements, insurance and any planned major works or disputes. Ask your solicitor to check the lease, OMC obligations and relevant documents, and confirm any points with the OMC or managing agent.