| Having assessed the level of support for RTM in your block it is time to form a RTM company. This is a simple process, requiring the co-operation of just two leaseholders. The Leasehold Guidance Service can administrate this immediately. |
Contact us now to set up your RTM company
What is an RTM Company?
A 'right to manage' (RTM) company is a recognisable legal entity created to manage an estate.It is necessary prior to a RTM application for a RTM company to be set up. This is a properly constituted legal company in which those participating Leaseholders become members.
A Right To Manage company set up in accordance with the Commonhold and Leasehold Reform Act 2002 is the only way to exercise the Right To Manage. Naturally, other arrangements (such as buying the freehold) are possible but these do not benefit from the regulatory structure provided by the Act.
The RTM company must be limited by guarantee (as opposed to shares) and should bind Leaseholders to the compulsory Memorandum of Articles and Association (essentially the rules governing how a company is run and what it can and cannot do).
It takes two leaseholders to start and RTM company; a minimum of two directors are required. (For help with recruiting members see step 3).
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