Right To Manage
Right to manage (RTM) allows leaseholders the right to manage their block via an RTM company.
Choosing to set up an RTM company is a significant decision and one that should not be entered into lightly.
An RTM company gives leaseholders full control of the way the block is managed and the associated costs. This includes agreeing the management schedule, negotiating deals for mandatory or optional works, and setting the budget.
All leaseholders have an equal say, so it is a democratic method of block management.
But it also comes with several responsibilities such as:
● Fire safety responsibility
● Conflict resolution
● Handling service charge disputes
It can also be time-consuming. And there are plenty of costly pitfalls to avoid for novices, as creating an RTM company requires you to follow a strict legal process. Which is why RTM companies often appoint a property management company to assist with both the setting up process and day-to-day block management.
Belvar has extensive experience in RTM management and can help you set up and run your RTM company to ensure it is fully compliant and effective.
Our RTM management services include:
Creating your RTM company
Opening assigned client accounts
Ground rent collection
Preparation for Section 20 work
Fire risk management
Management of communal areas