RTM : Right to Manage
The provisions of the Commonhold and Leasehold Reform Act 2002 has brought into force a new Right to Manage, or RTM, which enables leaseholders of flats, subject to qualifying rules, to take over collectively the management duties of the building without having to prove fault on the part of the freeholder or pay any compensation. This allows leaseholders to have a greater degree of control over the level of service charges set and the option to appoint their own managing agents and select insurers.
In circumstances where residents and lessees are experiencing problems with their existing landlord and find themselves unable to resolve matters this legislation now presents leaseholders with a solution. By setting up an RTM company they can, under certain qualifying arrangements, collectively take control of the management of the block.
Throughout the process, we can help clarify requirements by assisting and advising leaseholders wishing to consider this option. By co-ordinating efforts between leaseholders and their solicitors we can provide support and guidance through the somewhat complex legal procedures involved.
We are experienced and qualified property managers and can also manage your building following your Right to Manage claim.