Right To Manage (RTM)
The Commonhold and Leasehold Reform Act 2002 provides a right for leaseholders to acquire the landlord’s management functions by transfer to a company set up by them – the Right To Manage (RTM) company.
The right was introduced, not just as a means of wresting control from bad landlords, or managing agents, but also to empower leaseholders, who generally hold the majority of value in the property, to take responsibility for the management of their block.
The following points need careful consideration
- Does the Leaseholder qualify to claim Right to Manage (“RTM”)?
- Who can exercise the Right to Manage?
- How is the Right to Manage acquired?
- What costs are payable?
- What happens on the change of Management?
- What are the rights and duties of the Right to Manage Company?
- Can the Right to Manage Company lose the Right to Manage?
Property Management Solutions can help you through the complicated process to ensure your Right To Manage is set up correctly.
Some Useful Resources for Right To Manage
For More Information
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