subject: Responsibilities Of The Right To Manage [print this page] Responsibilities Of The Right To Manage Responsibilities Of The Right To Manage
Your solicitor will be a key figure in the right to manage (or RTM) process and it's recommended that you consult one early on in the process - and that you make sure that the solicitor you do appoint is a specialist in the subject. They will help with organisation, legal procedure and creation of the right to manage company that you and your neighbours need to form in order to be eligible to take over the management of the building. Your RTM limited company will be created after your first steps in exercising your right to manage leasehold property, this company will be liable to adhere to certain statutory regulations. It is a good idea to be thinking about this at the beginning and ask your RTM solicitor about it to make sure you understand the full legal picture. Here is an initial review of some of the responsibilities you need to be aware of: - The leaseholders, as a right to manage company, will need to understand legal procedures, housing, health and safety regulations and to employ a solicitor to advise them.- Legally, leaseholders will need to be found as officers of the right to manage company from the beginning.- These people will be officers of the company and have director responsibilities.- Problems raised by other residents can be diverted to the RTM company as well as the landlord.- You will require frequent meetings. - Are you prepared to deal with budgets, accounts and legal issues? Your RTM solicitor will be the person to help.- The right to manage company has to remain solvent. Watch out for leaseholders that normally fail with payments.- Be prepared to deal with various difficult or sensitive issues within the community. When considering taking over the right to manage, have in mind the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE). This is a law regarding employees and their rights and protection. It is sensible to ask you specialist solicitor to find out if the TUPE regulations will apply to your RTM company. Your RTM solicitor can provide you with more information. Once all these considerations are in control and you are confident in the handling of the long term procedures, you will be in a better position to go ahead with your project. You will be more familiar with the new ground and you will be protected under your RTM solicitor's umbrella. Exercising your right to manage leasehold property will allow you and your fellow leaseholders to make your own decisions about the management of the building and flats. The pros can be quite beneficial.
