The Right To Manage legislation (RTM) gives YOU the legal right to take control and manage your development
Around 90 per cent of newbuild property sold in London is leasehold, and a growing number of UK leaseholders are taking action against their property’s managing agents over poor service.
Top grievances include, unreasonable contract terms, arranging unnecessary works or charging for services not delivered.
*Right to Manage Criteria – at a glance
A minimum of 50 per cent of the leaseholders must be in agreement with moving to RTM, followed by:
- Two thirds of the leaseholder flats must be for the original duration of more than 21 years. The owner does not have to be resident.
- The building must possess at least two flats, which must also be self-contained.
- Any included commercial element, such as retail stores must not account for more than 25 per cent of the total floor area.
- Where a building is a converted property of four or fewer flats, neither the landlord nor their family must occupy any of the flats as a main residence.
- The local authority must not be the landlord of any leaseholder.
To win the Right to Manage…
You do not have to prove that your current landlord or management agent has done anything wrong. You just need to follow a very specific process to take over the running of the building.
The procedure can be lengthy and challenging, and if not followed correctly your landlord may prevent you from proceeding.
It is always recommended to obtain expert advice from block management professionals.
Charlesons bring over 12 years experience in managing a wide range of large residential property developments and always works closely with its leaseholders.