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Rtm right To Manage | Eddion PS – Eddison Property Services Ltd.

Rtm right To Manage

“Our team are ready to support you in taking control of your property. With 1st class servicing and 24/7 support, you’ll wish you had come to us sooner”

What is Right To Manage

Under the Commonhold & Leasehold Reform Act 2002, leaseholders have a statutory right in controlling the management of their site. Leaseholders have theRight To Manage (RTM) by forming their own company, giving themfree choice in appointing property management from the landlord of the building to another provider (Managing Agent). Leaseholders do not need the freeholder’s permission.
As a Right To Manage Company you are in complete control, essentially removing management authority from the Landlord.
TheLandlord would no longer have authority over any of the servicing and management of the premises, and you can appoint your own contractors for repairs, maintenance, gardening, cleaning, painting, and just about anything else related to the upkeep of the property and communal areas. You would be in control of all finances related to management
So Why Would You Want the Right To Manage?

It is quite simple. You will see a huge improvement in services because you are in control.
You don’t have to rely on a Landlord or Freeholder to organise essential works that need doing, and you decide on the who, what, when, where and how.

What Is The Criteria?

For those areas that are shared by several leaseholders, it is essential to have a mutual agreement between each other before advocating a change from Freeholder Management to an independent Managing Agent.

The conditions are:

  1. At least 50% of the flat or home owners within the physical premises must happy with the change.
  2. At least two thirds of the flat or home owners within the physical premises must have long leases (more than 21 years at the time of issue).
  3. No more than 25% of the premises should be for non-residential use (excluding car parks and common areas).
Provided the above conditions are met, you will achieve Right To Manage with success. Contact us for a full analysis, to see if you are eligible. Once you achieve Right To Manage status, and we are appointed as managers of your block, we will take care of all legalities or counter-notices that may occur.

What Is A Counter Notice?

In a successful Right To Manage claim, you may receive a counter-notice from the Freeholder/Landlord. If this occurs, we would need to submit an application to the First Tier Property Tribunal.
Even though, in most cases, the Freeholder will be unsuccessful, it is a legal process that has to take place. In such an event, you will not need solicitors, and our fees of submitting an application are considerably lower than solicitor fees (£1250 Inc. VAT).
For more information on the process please contact our Right To Manage team.

The Process

If you feel that you no longer want to answer to the Landlord or Freeholder, and would prefer control over managing the premise, a Managing Agent such as Eddison can oversee the entire process for you, making it smooth.

1

Form a Right To Manage Company

2

Serve the Notice Of Preparations to your neighbours and win their approval

3

Serve the Claim Notice to the landlord

4

Get ready to manage the property (as a Residential Management Company) or delegate a Managing Agent of your choice to handle it all for you

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