The Right to Manage, introduced by the Commonhold and Leasehold Reform Act 2002, is a cheaper and simpler alternative to the Right of Collective Enfranchisement (i.e. the right to buy the Landlord's freehold). Although the Landlord retains the freehold under the Right to Manage, the day to day control of the management of the building passes to the Right to Manage Company thus giving to the Leaseholders an element of control but allowing the Landlord to keep the investment value of the building.
The criteria for exercising the RTM are the same as for the Leasehold Enfranchisement. The grounds upon which the landlord can successfully object to the exercise of the RTM are few and with a properly prepared application will rarely arise.
RTM is cheaper than Leasehold Enfranchisement because no premium is payable to the Landlord and there will be no valuers' fees to pay. The only expense will be your own legal fees and those of the Landlord.
Basildon Long-Term Leaseholders Solicitor
At the law firm of Adrian Dann & Company, we can help you explore your rights and duties under a RTM application. We are focused on providing our landlord and tenant clients with personalised attention, taking the time to understand their goals and pursuing legal options that are in their interests.
Our Solicitor Adrian Dann, has nearly 30 years of property law experience and is a member of the Association of Leasehold Enfranchisement Practitioners.
Why RTM?
By acquiring the right to manage means that you can be in the overall control of the management of your building.
Examples of management functions are:
- Maintenance of the building structure and common building parts (including repairs, renewals and redecoration);
- Any Improvements that need to be made to the building;
- Condition of services (such as lighting, gardening, cleaning);
- Insurance
- Appointing a new managing agent or retaining the existing landlord.
- Ensuring the smooth running of your building
How Does RTM Work?
A landlord does not have to be managing a property poorly for RTM to be available. The landlord will retain the freehold despite the tenants being placed in charge of managing the property, acting as their own landlords.
What is the landlord entitled to? In addition to retaining the freehold, landlords are also entitled to recoup their reasonable fees that were incurred in responding to the process.
Mr. Dann can go over any proposed RTM agreement, advising you on your rights as a tenant or landlord. If an agreement cannot be reached, parties have a right to bring their case before the Leasehold Evaluation Tribunal for resolution.
Contact Adrian Dann & Company
To learn more about how we can help you with your RTM case, call 0808 129 5757 or email us for a free half hour consultation.
