Right To Manage Service
RTM could be for you if you want to:
- Have a say in how your building is run
- Total transparency on expenditure
- Lower yearly service charges
- Effective communication
- Greater control
The right to manage is a no-fault procedure and there are certain criteria that need to be met. The procedure is straightforward and a professional RTM company will advise you and guide you through the process. Having an RTM on your building can save you time, money and hassle.
Vision RTM can help you finally have a say on how your block is run and control the way the way in which your service money is spent. A large number of flat leaseholders in the UK do not own the freehold and are frustrated with having no say or little control over the day to day management of the block. The Commonhold and Leasehold Reform Act 2002 has given leaseholders the right to manage if they set up a RTM company.
Vision RTM was founded to help leaseholders take advantage of this law and let you have a voice. Vision RTM have an experienced legal team and professional property managers who have carried out numerous RTMs and have been successful on each one.
Due to the difficulty of raising the finance to purchase the freehold of the block the RTM is a cost effective alternative.
Bob Smytherman, chairman of the federation of Private Residents Associations says:
"We would recommend RTM to any leaseholders looking for greater control and transparency especially when it comes to the levels of service charges and management fees charged by managing agents."
- It will give you and your block total control over expenditure, and the services provided.
- Costs could be significantly reduced.
- You will be in a better position if you want to negotiate lease extensions.
- It may make your block more attractive when selling
The right to manage is available to all flat owners. To gain a RTM the following criteria must be met:
At least 50% of flat owners within the block must sign up to the process in order to move forward.
At least 2/3rds of the flat owners must have long leases (21 years at the time of starting the RTM process).
The property can be part commercial but the non residential space must not exceed more than 25% of the total floor area
Please call us today if you are interested in carrying out an RTM on your property on 08454568775.
Frequently asked Questions
Vision are here to help, and offer free advice on ALL leasehold matters you may need help with. If you need a more detailed response on any leasehold matters you are having problems with, please Contact Us and one of our Team will get back to you ASAP.
Below you will find a list of questions people frequently ask about The Right To Manage procedure.
The 1st lessees wanting to start the process.
Memorandum & Articles of Association must be in a form as prescribed by Regulations under the Commonhold Leasehold Reform Act.
The day that residents take control.
The timetable of the various stages is set down in law. You should allow about 4 months, it may take longer if the landlord objects.
Once the Notice of Claim is served on the landlord and any other relevant party, the RTM company and its members are liable for the reasonable costs of those upon whom Notice is served. This includes the costs of their professional advisers.
For the Notice of Claim to be valid, at least 50% of the qualifying tenants must be members of the RTM company. We recommend that as many as possible sign up as this ensures a legal route to share RTM costs.
If he/she wants to YES.
By virtue of the provisions of the Commonhold and Leasehold Reform Act 2002 effective autumn of 2003.
No, because there is no need to prove any fault on the part of the freeholder or the current manager.
Do the premises consist of a self-contained building, or part of a building, (part of a building can be classed as self-contained if it has vertical division, could be redeveloped independently and has, or could have, its own services).
At least 2/3rds of flat owners must "qualify", ie, hold the residue of a lease that was originally for more than 21 years.
No, there is no limit to the number of flats owned by one person.
The commercial/non-residential content must be no more than 25% of the total floor area.
A garage, parking space or storage area where used, or intended for use, in conjunction with a particular dwelling contained in the premises shall be taken to be occupied, or intended to be occupied, for residential purposes.
For the purpose of determining the internal floor area of a building or of any part of a building, the floor or floors of the building or part shall be taken to extend (without interruption) throughout the whole of the interior of the building or part, except that the area of any common parts of the building or part shall be disregarded.
4 units is the critical number, if your block has 4 units and a resident landlord then the normal rights to not apply.
The premises are not, and do not form part of, a purpose-built block of flats (that is, a building which, as constructed, contained two or more flats).
A relevant freeholder, or an adult member of a relevant freeholder's family, occupies a qualifying flat as his only or principal home.
Broadly, the freeholder must have throughout the last twelve months occupied the flat as his only or principal home. There are other complex criteria and a case by case approach needs to be taken.