1. What are the criteria for the creation of RTM?

The required minimum number of qualifying tenants must be equal to at least half of the total number of flats in the building.  The RTM act allows a landlord to become a member because of their interest in the property. A landlord cannot become a director of the RTM company.

Qualifying tenant:

§  Leaseholder whose lease was originally granted for an original term of more than 21 years

Qualifying  Building:

§  At least two-thirds of flats must be let to ‘qualifying tenants

§  If there are commercial elements within the property, they must not exceed 25% of the total floor area (excluding common parts)

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