Right to Manage – Take control of your building and its service charge
If you own a leasehold flat and are unhappy with the management, choose your Right to Manage like 1000s of owners.
We are experienced in completing Right to Manage claims. There are no upfront costs and we will provide hands on help to guide you through the process?
Get in touch and find out how the Right to Manage can help you.
What is Right to Manage?
The Right to Manage (RTM) was introduced through the Commonhold and Leasehold Reform Act 2002. It gives leaseholders the statutory right to take over the management of their property from the landlord by setting up a right to manage company.
RTM is an important right for leaseholders. You do not have to get the landlord’s permission, prove any mismanagement or obtain any court order to exercise the right. It does come with some responsibilities and it’s not a decision that should be taken lightly.
Although the process is relatively straight forward, the qualifying rules and criteria can be complex. This is where we can help you to navigate through the criteria.
Why Right to Manage?
Introduced in 2002 the Right to Manage has empowered many leaseholder groups. By exercising your Right to Mange you can appoint a Managing Agent who is accountable to you, the leaseholders, instead of your Managing Agent only being accountable to the Landlord who will have no financial liability or any great interest in the day to day management.
Simply put you will have final sign off on items such as:
- Service Charge Budget
- Appointment of a Managing Agent
- Service Contracts
Many leaseholders are facing excessively high charges for items such as insurance, rental agreements and maintenance contracts purchased at uncompetitive prices. By appointing your own managing agent who is accountable to you, the owners, you will control how your service charge money is spent instead of the landlord. At the end of the day, you the leaseholders decide.
Because of this you can expect better value for your money, a better service, a more transparent service and an increase in saleability of your property as it is owner controlled.
The Competition & Markets Authority’s market study on Residential Property Management Services (RPMS) published in December 2014 advises that “where residents have an RTM company their degree of satisfaction over RPMS is higher”.
Here are some links to relevant articles:
Find out how our property management service can help you
38 Corbidge Court,
Glaisher Street Greenwich Quay,
London SE8 3ES