What is Right to Manage
The Right to Manage (RTM) was introduced through the Commonhold and Leasehold Reform Act 2002. It 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.
RTM is an important right for leaseholders. They do not have to get the landlord’s permission, prove any mismanagement or obtain any court order to exercise the right. But it does come with some very real responsibilities and it’s not a decision that should be taken lightly. Leaseholders can choose to manage the development themselves or appoint a management company of their choice.
Although the process is relatively straight forward, the qualifying rules and criteria can be complex. So we recommend anyone contemplating exercising this right should first read the detailed guide produced by the Lease Advisory Service www.lease-advice.org/