The Right to Manage gives leaseholders the opportunity to take over the management of their property.
The Right to Manage was introduced through the Commonhold and Leasehold Reform Act 2002. The Act gives leaseholders the statutory right to take over the management of their property from the landlord by setting up a special company - a right to manage company or (RTM).
RTM is an important right. Leaseholders do not have to get the landlord's permission, prove any mismanagement, or obtain any court order to exercise their right. It does however come with some very real responsibilities and it's not a decision that should be taken lightly.
Although the process is relatively straight forward, the qualifying rules and criteria can be complex. So we recommend anyone contemplating exercising this right contact either Christopher Shepherd or Jonathan Lynn our partners that cover this area.