Through our sister company, MJ Boaden Chartered Surveyors, we can assist leaseholders in their Right To Manage (RTM) aspirations and subsequent set-up and resulting administration.
This may be the desired course of action where a sufficient number of leaseholders are unhappy with the cost and service of their existing managing agents. The process involves the formation of a new limited company to take over the management of the building. This Right To Manage Company is established in accordance with the provisions of the Commonhold & Leasehold Reform Act 2002, and would then assume the role of the Landlord / Freeholder for management purposes on a day to day basis.
The criteria which the Building and the Leaseholders must meet in order to exercise their RTM are not always easily satisfied, and professional advice is the most appropriate initial route for a proposal, before committing to the establishment of an RTM Company. We can assist in the process, including advising on the setting up of service charge schedules, the duties incumbent on the new RTM company and the leaseholders.
For more advice, visit The Right to Manage publication by The Leasehold Advisory Service which can be found here