Creating your own right to manage company (or RTM company as it is also referred
to as) can be a complicated process, therefore you should set yourself up for success by taking on a specialist RTM lawyer to help with all the legal processes. This article looks at the processes involved:
Help you manage the process:
One of the main things your right to manage solicitors can do is to help you manage the process. The right to manage your property is granted by the 2002 Commonhold and Leasehold Reform Act, which lays out the timetable you need to follow when you put the process into motion. Your solicitors will be able to help ensure you stick to this timetable so that everything is done when it should be and you will have the best possible chance of successfully forming a right to manage company.
Advise you:
Right to manage solicitors will also be able to advise you on what to do at certain stages of the process. For instance, when you are just putting things into motion, they will be able to tell you whether or not you are eligible to form a right to manage company. If you have an absent landlord or would prefer to contact them through the solicitor, they can help you with this. They will also be able to take you through your next steps and tell you what information you will need to have ready at particular stages.
Serve Notice on the landlord:
Another thing that your solicitor can do is to take care of the legal part of the process. For instance, you will need to serve an invitation to participate in your RTM company to all qualifying leaseholders, as well as your current landlord. You will also need to serve a Notice of Claim to your landlord and deal with their subsequent Counter-Claim. This is something your solicitor will be able to manage with your input.
Transfer freehold ownership:
One final job of right to manage solicitors is to draw up the documents detailing the transfer of freehold ownership once your company has acquired the right to manage the premises. The freehold will be transferred from the current landlord to your company and your solicitor will be able to set out the documents detailing the terms of the transfer and the new legal arrangements put into place concerning the management of the premises following this.