The Right to Manage Process For Leaseholders

The Right to Manage Process For Leaseholders

RTM may have to come to your attention in the media, however how much do you really know about it? What you do know is that you feel that the management of your block could better and you are not really getting good value for money when it comes to the maintenance fee. It also so happens that the other tenants in your block feel the same, therefore are you eligible for RTM?The formation of right to manage companies, when handled correctly by a specialist solicitor, has helped to lift hundreds of tenants out of this scenario. Leaseholders living in a block of flats can enjoy many benefits from following the RTM process, for example saving financially in service and management charges. Sometimes these annual savings have added up to huge amounts. With an exercise of the right to manage the leaseholders have the collective right to take over the management of their block of flats. This is a legal provision as set out in the Commonhold and Leasehold Reform Act 2002. A right to mange solicitor will explain the process in detail but you can also get together with the other leaseholders in the block and check your situation out beforehand. Naturally there are certain criteria to fulfil in order to exercise your right to have a say in the management of your block of flats. For example: - at least 1/2 of the tenants occupying your block must agree to proceed with RTM. - at least 2/3rds of the tenants within the block must have leases which are longer than 21 years at the time of issue.- a maximum of of the building is used for non-residential purposes. This does exclude any common areas which have a connection to the block or car parks.If you are unhappy with the management of services of your block, the chances are most of your fellow tenants probably are too. It is a good idea to talk to them or dicuss things during a meeting. You could find that actually you satisfy the criteria, you have taken good advice from a specialist lawyer and the process is completely swifty and relatively pain free.Choose a specialist right to manage solicitor who has particular experience in the formation of right to manage companies, as it is not an area to attempt to undertake without legal support; there are often a few technical legalities which can block the RTM process.

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