The Right To Manage your development (RTM)

Right to manage (RTM) is part of the Commonhold and Leasehold Reform Act introduced by Parliament in 2002.

It allows a qualifying group of Leaseholders to take over the management functions of their Landlord without having to prove any fault on the Landlord’s part. In short, RTM allows Leaseholders to take charge of their development.

  • Do you pay a service charge but don’t have any input as to how it is spent?
  • Do you pay ground rent to a third party Landlord but never seem to have any other interaction with them?
  • Is your development managed by an Agent elected by your Landlord?
  • Would you like to take control of how your service charge is spent?

 

Almost one third of New Business enquiries to PMS involve guidance on RTM.

RTM has a number of advantages: freedom to employ your choice of managing agent and contractors, the ability to help, advise and make critical decisions on matters concerning day-to-day management and maintenance of your development, and it will almost certainly add value to your property.

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    RTM - Your right to manage your own block as leasehold managers of your own development - PMS Managing Estates

    PMS specialises in Right to manage (RTM)

    As residential property management experts, we are very well placed to provide guidance on RTM and can put you in touch with an agency who will execute RTM on your behalf.

    As a leaseholder, to qualify for Right to Manage RTM, you must be able to say ‘yes’ to the following three questions:

    1. Can you assist us in rallying support from at least 50% of other Leaseholders on your development?
    2. Do at least two thirds of the flats within your block have long leases (more than 21 years remaining)?
    3. Is no more than 25% of the block used for non-residential use, for example commercial units or leisure facilities? (excluding car parks and common areas like stairways, communal landings and hallways)?

    RTM is not a complicated process to follow with the right guidance. If you have answered ‘yes’ to the three questions above PMS will be able to refer you to a specialist RTM agency that will provide a complete service to execute your RTM in as short a time as possible.

    Not all developments can follow an RTM process successfully, however, so please call us if you are unsure and we will be happy to offer guidance and undertake a free survey for you.

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    Residential property management services from PMS Managing Estates in Suffolk, Essex, Kent and London