How we assist you in Obtaining the Right to Manage (RTM)
We help leaseholders obtain management rights to their buildings.
The Commonhold & Leasehold Reform Act 2002 provides Leaseholders the legal right to acquire management rights of their block of flats. The right was introduced, not just as a means of wresting control from bad landlords, or managing agents, but also to empower leaseholders, who generally hold the majority of value in the property, to take responsibility for the management of their block.
What is the Right to Manage?
The Right to Manage is available to Leaseholders of flats and does not apply to houses.
The process is relatively simple. The Freeholder’s consent is not required, nor is any order of the court. There is no need for the leaseholders to prove mismanagement by the landlord. The right is available, whether the landlord’s management has been good, bad or indifferent.
The right is exercised by the service of a particular legal notice on the Freeholder. After a set period of time, the management transfers to the Right to Manage (RTM) Company which has been set up for the purpose of managing the block of flats by the Leaseholders. The Freeholder still owns the building, but management is now taken care of by the Leaseholders who are free to appoint a Managing Agent of their choosing.
Does my building qualify for Right to Manage?
The building must meet certain conditions and a minimum number of leaseholders is required to take part.
The Right to Manage may only be exercised by a Right to Manage company and the members of the RTM company must comprise of at least 50% of the flats in the block.
The right relates to a building, so, in an estate of separate blocks, each block would need to qualify separately, and an individual RTM notice served accordingly.
How long does obtaining the Right to Manage take?
The Right to Manage process takes approximately 6 months from commencement, if the Freeholder contests the claim, it may take a further 3–4 months for the matter to go to the First Tier Tribunal for a final determination to be made.
How much does the Right to Manage cost?
At Parkfords we offer some of the most competitive Right to Manage fees available in the industry.
In most cases we are prepared to complete the Right to Manage process on a NO WIN NO FEE basis, where we are appointed as Managing Agent for the RTM Company on completion of the process.
To request our fee scale please contact us.
FREE Service Charge Comparison Check
We offer a free comparison check on your current service charges against similar size blocks that we manage to give you a realistic idea of likely savings we could make for you.
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