Why take your right to manage?
If you live in a block of Apartments and do not have a say in who runs that block then you can beneﬁt from the Right to Manage Process. If you are one of the many developments that do not have a Management Company, there are other solutions to assist you in changing your agents. Since its introduction under the Commonhold and Leasehold Reform 2002, it’s becoming increasingly popular for leaseholders to take control of their block and the management functions by acquiring the Right To Manage (RTM) for their building.
Right To Manage is a non-fault based procedure. However, the leaseholders need to meet certain qualifying criteria, and follow the correct processes. If the criteria are not met, for example if the building does not qualify or there are insufﬁcient numbers of leaseholders who participate, then Right To Manage cannot be undertaken. The Right To Manage process allows leaseholders to join together and take responsibility and control of the management from the landlord.
The responsibilities of any Right To Manage company will normally be outlined within your lease but can include the following: setting of service charge budgets, major works and Section 20 consultation, housekeeping standards, and most importantly for many of our clients, the administration of buildings insurance. From our experience clients have beneﬁtted from large savings on areas such as buildings insurance cover. Savings of over 30% on insurance have been achieved as well as other cost effective solutions.
Right to Manage (RTM)
The Commonhold and Leasehold reform Act 2002 allows leasehold tenants to remove the company which manages their block and replace it with their choice of management company. This process can be difﬁcult to complete without the help of a professional company to guide you through the process.