Step 1 – We set up your RTM Company which is a Limited Company. To do this at least one owner will be nominated a Director and each member’s liability is limited to £1
Step 2 – We complete Land Registry searches and reach out to owners to help you get to at least 50% owner participation.
Step 3 – Once 50% participation is achieved we will serve a notice inviting participation within 14 days on all non-member owners.
Step 4 – We serve a notice on the Landlord advising them that you are exercising your Right to Manage, the Landlord has 1 month in with to make a counter claim which can only be made on the basis the building doesn’t qualify.
*Step 5 – If no counter notice denying the Right to Mange is served your Right to Mange claim is successful.
Step 6 – You will take control in 4 months from the date the notice was served on the Landlord. This window is used to tender/place all contracts, insurance and appoint a Managing Agent.
*Step 5 – If a counter notice is served denying the Right to Manage the RTM company can make an application to the FTT for a determination or withdraw it.
The Landlord can recover their “fair and reasonable” legal costs in dealing with this notice. Many don’t charge at all, if they do their costs are around £500.
Find out how our property management service can help you
38 Corbidge Court,
Glaisher Street Greenwich Quay,
London SE8 3ES