Leaseholders have the statutory right to take over the management of their site from the Freeholder. The Commonhold and Leasehold Reform Act 2002 introduced the Right to Manage (RTM); allowing Leaseholders to do so by setting up a special Right to Manage Company. Leaseholders do not need the landlord's permission or to prove any mismanagement.
If your property is situated on a development where the Freehold is owned by a third party, it may be that you do not have as much input into the running of the site as you could. The Right to Manage provides leaseholders the opportunity to take on the management of their site themselves.
Right to Manage may be the best option if you are a Leaseholder. On a development the Landlord (Freeholder) currently appoints the Managing Agent themselves and / or sets the service charge and decides how it is spent. Exercising the Right to Manage will give you control over these issues, although it also comes with many responsibilities.
You can find more information on how to exercise your right and what it involves through the Leasehold Advisor Service website.
Whether you are a Freeholder-run site exploring the possibility of Right to Manage, or a member of an established RTM Company, we at Boydens Leasehold & Estate Management Team will be happy to help you.
We have a wealth of experience in managing properties on behalf of RTM Companies and have several RTM-run sites in our portfolio. Equally, we will happily help you establish a RTM Company and have in the past supported sites in the transition to RTM status.
Whatever your RTM needs; we have the experience required to assist you managing your site to the high standard it deserves.