Right to Manage - we show you how
The Law Commission has announced it will publish its review of Right to Manage in February 2020. In the meantime, if you live in a block that is thinking of RTM, Ringley has an E-Book that explains the process.
Right to Manage is the no-fault process that enables a group of residents to take control of the management of their block. Our step-by-step guide explains what you will need to do if you and your fellow residents want to go down this route. Under the Commonhold and Leasehold Reform Act 2002, there are four tests that your block needs to pass in order to qualify. These are:
- Are there two or more flats in your block?
- Are there two leaseholders willing to be directors of the new Right to Manage Company?
- Is your block self-contained?
- Do at least two thirds of residents hold long leases (ie they are not renting their flats)?
If the answer to these questions is ?yes? you can go ahead and register your RTM Company. You will need to send out formal participation notices to the other residents and to your freeholder. You must also serve a claim notice on your freeholder and your managing agent telling them of your intention to exercise your right to RTM. If your freeholder disputes your claim you may need professional advice to deal with a counterclaim.
If your claim is accepted, you can go ahead and take control of your property. This will mean taking responsibility for maintenance, repair, collecting service charges and accounting, insurance and overall management.
These are not tasks to take on lightly. There is a reason why property management is undertaken by professionals and many RTM Companies, rather than manage their own buildings, employ a managing agent to do it for them. Under RTM, the choice of agent is theirs and residents are in control of their own homes.
As the law stands at present, a successful outcome is dependent on serving notices correctly and getting the process absolutely right. Ringley has years of experience helping flat owners to a successful RTM outcome. So download our E-book here and contact us today for more information. We?re here to help.
Author : Mary-Anne Bowring
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