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FEATURED BLOCKS RTM Features What is the Right to Manage?


RTM is the legal right of leaseholders in a block of flats to take control of the management of their block without proving fault on the part of the landlord. In order to be eligible both the block or blocks and the leaseholders must meet criteria set out in the Commonhold and Leasehold Reform Act 2002. The premises must consist of a structurally detached building or part of a building that can be served independently. The block or blocks must contain at least two flats owned by qualifying tenants, and at least two- thirds of the flats must be leased to qualifying tenants.


A block won't qualify if more than 25% of the floor area is non-residential, the property is owned by the local authority, or it is a building of four or fewer flats where one is occupied by the landlord as his principle home. In order to qualify, leaseholders must originally have been granted a lease for a period of greater than 21 years.


RTM can only be exercised through an RTM company set up according to statutory regulations. This must be a private company limited by guarantee and its articles of association must state that its object is the acquisition and exercise of the right to manage the premises.


Legally, you do not need a majority of leaseholders to agree to RTM in order to proceed. If at least half the leaseholders in the block support RTM you can go ahead.


RTM is started by the formation of the RTM company with leaseholders as founding members and at least one leaseholder as a director. Once the RTM company is established, it must serve the required legal notices, including a notice on the landlord advising that leaseholders will be exercising their statutory right to manage. So long as the statutory conditions are met the landlord has no legal grounds to object and the right to manage is determined a month later, with the RTM company taking over the management a further three months later.


For more information on RTM go to the Right to Manage Federation website at:


www.rtfm.org.uk


or contact the Leasehold Advisory Service via their website at:


www.lease-advice.org.uk Residents at Century Wharf are now reaping the benefits of their bid for RTM Issue 20 43


Century Wharf is located close to the shops and restaurants at Mermaid Quay


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