Right to manage Leasehold
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Right to Manage
Many leaseholders have the right to take over the management of the building containing their flats without having to demonstrate that the current management is poor – they can exercise the Right to Manage merely because they want to! The right to manage was given to leaseholders of flats by the Commonhold and Leasehold Reform Act 2002 and has been exercised by many leaseholders up and down the country.
The process of forcing the freeholder to relinquish control of management is rather complicated, but painless, and will take a minimum of four and a half months. The law requires that a minimum of 50% of the flats in the building participate and every leaseholder must be invited to become a member of the Right to Manage (RTM) company. When 50% have joined, we will serve a legal notice on the freeholder (or current management company, as the case may be) to commence the process giving four months notice that management will transfer to the RTM company. The transfer of management is automatic once this legal notice has been served.
Any contracts, such as lift maintenance, boiler maintenance, managing agents, buildings insurance etc., that are currently in force may be brought to an end if the leaseholders wish. Often, leaseholders will keep these contracts in place for a short period whilst they look for alternative contractors. However, if the leaseholders do not elect to keep the contracts in place, they will automatically come to an end. We can assist you in finding a new managing agent and other contractors so that you are not left without cover.
The RTM company will have a board of elected leaseholders so you know you will always be in control of the management of your building.
This is a complex area of the law and requires expert advice. Please contact a member of our team below or email firstname.lastname@example.org for an initial consultation to discuss the best way forward for you and we will provide you with further and specific advice tailored to your circumstances.
Our experienced and understanding team are here to help you. We will work with you to ensure the best possible outcome.
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