Team TMO is a not-for-profit company set up and run jointly by its member Tenant Management Organisations. The purpose of Team TMO is to help member TMOs provide housing management, repairs and other services more effectively, for the benefit of their communities.
Member TMOs retain full independence. However TMO tasks, topics and jobs that would benefit from an economy of scale are then done through Team TMO. All Team TMO services or initiatives are defined and revised by member TMOs. Member TMOs contribute an appropriate and agreed share of the costs through Team TMO. In return they get a better and more cost effective service than if each had gone it alone.
Member TMOs will each have one share in the new company. No other shares will be issued unless agreed by the Board of Directors. Each organisation will nominate an equal number of representatives to sit as a Board of Directors. Decisions on initiatives to pursue through TeamTMO must be taken by consensus. Initially joint initiatives to be pursued by Team TMO will be undertaken by the TMOs’ existing staff.