The FPRA was set up during 1971-72 as a non-political, non-profit making voluntary organisation offering advice and support by a group of residents' associations in private-sector blocks of flats. In 1986 the FPRA formed itself into a company limited by guarantee. Its executive body is an unpaid committee of volunteers who are also directors of the company.

It offers its members specialist legal, insurance, management, and building guidance, and offers a free block website to its members in association with News on the Block.

It also lobbies vigorously for leaseholders rights and currently has a membership of over 500 Residents' Associations and resident owned freehold companies, including: Right To Manage Companies, Commonhold, and other most other forms of Resident Groups. Their members are spread across England and Wales.

As an independent organsition it does not endorse or recommend any products, service providers or companies and is frequently consulted by government.