Not satisfied with the way your block is managed?

 Not satisfied with the way your block is managed by your landlord?

Leaseholders have the statutory right to compel the landlord to transfer management to a separate company set up and run by themselves—the Right to Manage (RTM) company.

Providing at least 50% of the flat owners agree, a formal notice can be served on the landlord to transfer the management to new RTM company. This right is available whether the landlord consents or not, and irrespective of the quality and efficiency of his/her management. No court order is required, but formal notices have to be served according to a statutory timetable. It is always advisable to seek professional assistance with the process.

Obtaining the Right to Manage empowers the leaseholders, who have the greatest interest in maintaining the value of the block and the units within it, to take control. The members of the new RTM company will, however, need to be prepared to accept the legal responsibility for maintaining the building and setting the regular service charges. They will have the power to appoint contractors to carry out the necessary works and a managing agent to do the day-to-day administration according to their instructions.


For more informtion, please contact Peter Hodges on 020 8567 0077 or email us on info@colinbibra.com


 

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