Right to Manage
The Commonhold and Leasehold Reform Act 2002 provides a right for leaseholders to acquire the landlord’s management functions by transfer to a company set up by them – the Right To Manage (RTM) company. 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.
The right to manage is available to leaseholders of flats providing your block meets the qualifying criteria. Estates can assess your block and advise if the criteria is met.
We have years of experience helping leaseholders achieve their Right to Manage and we won’t stop until we have helped many more. Feel free to discuss any issues with one of our team, further information regarding Right to Manage and other leasehold issues can be obtained from The Leasehold Advisory Service at http://lease-advice.org.
Should you decide to use Estates to take on the administration and process of acquiring the Right to Manage of your block we will not charge you a penny on the basis that you appoint us as the managing agent once the Right to Manage is achieved.
From service charge collection and accounting to contractor placement and insurance, Estates encompass all aspects of residential property management into our offering.
1. Talk you your fellow Leaseholders
Communication is important when considering Right to Manage as in order to proceed all leaseholders need to be aware of the intention, in fact 50% of the leaseholders (referred to as Qualifying Tenants) must agree. Consider informal meetings initially to gain support.
2. Commence Right to Manage Process
The process involved in acquiring the Right to Manage of a building can be complex with administration requirements that if not followed can lead to a failed attempt and costs. It is important to ensure that the process if followed and evidenced properly and it is recommended that leaseholders engage a specialist. Estates has completed many successful Right To Manage applications on behalf of owners, Estates don’t charge any fees for this on the basis that we are appointed as the managing agent when Right to Manage is obtained.
3. Aquire your Right to Manage
On successful completion of the process for acquiring the Right to Manage of a building, the Right to Manage Company assumes the management and maintenance responsibility from the freeholder/landlord. The leaseholders now being in charge can control and manage the building for the good of all stakeholders.