Right To Manage
Call us on 01202 901709 or submit your enquiry here…
Book AppointmentRight To Manage
ARMA-Q accredited, we specialise in the Management of leasehold properties across the South Coast
Many of our clients are members of a limited company that owns the freehold or is responsible for the maintenance of their property. They are often elected officials (directors) of the company who take on the role of interfacing with the Managing Agent to guide decisions that are made, in the best interest of the company and its members.
We recognise that this can be a thankless task and on occasion be very demanding and time consuming. We work to try and alleviate that burden and can adopt as many (or few) tasks and responsibilities required, whilst always working with the client to form an efficient management team.
Understanding RTM
Right To Manage is the legal mechanism (Commonhold & Leasehold reform Act 2002) for leaseholders to acquire the control of their property and essentially take over the management responsibilities from the freeholder.
Although the process is relatively straightforward, the qualifying rules and criteria can be quite complex and (i) at least 50% of the lessees must support the RTM application (ii) 66% of the lessees must have leases that were originally of 21 years (or longer) and (iii) less than 25% of the floor area is for commercial use.
Appoint a Managing Agent
Once you have acquired the Right To Manage you may want to engage a Managing Agent (MA) to support the management of the property. The attached link provides some guidance on what services you can expect from a managing agent, but you should always research the agents in your area to determine most appropriate company to assist.
You should establish what services you will require from the Managing Agent, obtain a quote, and determine the fees involved, negotiate a contract, and define the expectations, roles & responsibilities. For a Managing Agent to function efficiently and provide the best value, clear & concise communication is required and a single point of contact is preferred.
Mallorie Estates can provide guidance on the RTM process for existing clients and management services for established or upcoming RTM companies.
RTM drawbacks
As with anything, the acquisition of Right To Manage from the freeholder brings both benefits & drawbacks. The main benefit is that it gives leaseholder greater control over their building, allowing them to make decision that are in the best interests of the building and its residents.
It can also contribute to financial savings as the member can negotiate improved contracts with contractors & suppliers. There are also drawbacks though and achieving good management, maintaining good lines of communication and negotiating quotes for support services can be time consuming, and require significant effort & resources.
RTM Responsibilities
Once the Right to Manage has been successfully achieved, the company becomes liable for various responsibilities including (i) maintenance & repair (ii) enforcement of rules & regulations, including any breaches of the lease (iii) budgeting & financial management (iv) communication with leaseholder, whether member of the RTM company or not and (v) appointment of a Managing Agent – the RTM company can select and engage a Managing Agent to fulfil all of the companies obligations.
Data Capture Form
Read more about our Block Management services and see range of services available for Landlords
Property Management & Lettings Services
Mallorie Estates are a family run business located in Verwood, Dorset and provide Property Management and Lettings Services across Dorset, Hampshire and Wiltshire. Right To Manage allows leaseholders of residential properties to take over the management of their property from the landlord or managing agent, and the team at Mallorie Estates works with clients across Dorset, Hampshire and Wiltshire. Mallorie Estates are licensed members of ARLA and ARMA and offer Fully Managed Lettings Services for landlords and tenants across Dorset, Hampshire and Wiltshire.