Right to manage: an introduction
The Commonhold and Leasehold Reform Act 2002 provides owners of leasehold properties in England with the right to manage their property. Without having to prove any fault on the part of the current landlord or manager, leaseholders can force the transfer of the landlord's management functions to a special company set up by them - the right to manage (RTM) company.Here the Leasehold Guidance Service provides a step-by-step guide to exercising your Right To Manage.
why setup an RTM company?
As a leaseholder there could be many reasons for wanting to take responsibility for the management of your block. Perhaps you would like more control over the level of service charges set, wish to appoint your own choice of managing agent, or want to select your own insurance policy for the block.
Whatever the reason, you could benefit directly from exercising the Right To Manage, as long as you are comfortable with the responsibility that this brings.