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Right To Manage (RTM)


What is right to manage?

A right to manage involves discharging the involvement of the freeholder in running the maintenance of the property and taking control by formation of a RTM (Right to Manage) company. The RTM will have the responsibility for the maintenance and legal governance of the property. We understand that leaseholders have a vested interest in the running of their block and estate, the formation of an RTM will allow involvement in decision making collaboratively with other leaseholders.

Why exercise RTM?

In some instances, the freeholder or landlord may not be managing the maintenance obligations satisfactorily allowing a building to fall into disrepair. In additional the landlord may not be managing the service charge account adequately resulting in a sporadic collection of funds. Ultimately landlords do not have the same interests as the leaseholders who wish to maintain and improve the property they live in.

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Legislation

The Right to Manage was introduced as part of the Commonhold & Leasehold Reform Act 2002. Qualification for RTM

  • Have at least two leasehold flats within the property
  • Collective support of at least 50% of leaseholder
  • Be partially self-contained
  • Two thirds of flats must be let to ‘qualifying tenants’; (A term greater than 21 years)
  • Can comprise a mix use development of no more than 25% commercial element

How can we help?

We can help by guiding you through the process from assisting with the formation of the company and issuing and the correct notices on the landlord. We can either assist on a fee basis or alternatively if you wish to appoint Consult Property Management as your managing agent, we can complete the RTM application free of charge. For more information please do not hesitate to contact us on info@consultpropertymanagement.co.uk.

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Address

Gunpowder Works, off Bysing Wood Road
Faversham, Kent, ME13 7UD

Lets Talk

01795 606247

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