RTM – FAQ’s 2018-02-15T20:57:31+00:00

RTM
FAQ’s:

We’re happy to offer free help with Right to Manage applications on Social Media

Our Most Frequently asked questions about the RTM process:

At least equal to 50%. Each property to have only one vote.
Completely up to you. Essentially there are three options though; Do it yourself, hire a solicitor, or use a specialist service provider who isn’t a Solicitor (of which there are several that we know of). Your particular circumstances will dictate which option is best.
We will act as coordinator and can scale our role up or down depending on what you need. We can help track down leaseholders to take part in an application (which is no easy task as most blocks in London are more than 50% let- meaning the owners don’t live at the property), co-ordinate the singing of all the paperwork, organising and hosting residents meetings to discuss the process as it unfolds, and in some instances we have enjoyed success in negotiating the terms of a Management Company takeover with freeholders direct.
No we don’t charge for this service. We hope to be appointed as your first directly appointed managing agent once your application is complete
We will examine the building and put together a budget using a combination of quotes from local independent contractors and estimates based on similar blocks that we manage. We’ll do this quite early on in the process and supply it to you and all your co-owners. Most people reduce running costs by around 25% when they go down the Right To Manage route
The average cost is £75 per flat. The only unknown costs are the Freeholder’s legal expenses (which the RTM Company has to cover). These have to be ‘fair and reasonable’ under property law. Blocks that have gone RTM see this as a small price to pay for the benefits and cost savings they make.
No payment is required up front. Payment will be required after the RTM process has been successfully completed
Once the required number of leaseholders has been reached the application can be made to the Freeholder. We would expect everything to be completed within 3 months.
Its up to you. We recommend leaseholders that live in the block or want to have a more active role and we advise at least 3 Directors for the new RTM Company. Non-Directors will become members of the RTM Company and will be able to vote on the major block decisions at the Annual General Meeting. Those that don’t join the RTM Company will not be members and have no say in block decisions
Budget

• We will use independent contractors local to the block
• We do not make commissions
• We take a sensible common sense approach to our management and have a good understanding of what goods and services should cost
• We have a tried and tested list of reliable value-for-money contractors at our disposal

Service

• We will provide references from similar buildings and other RTM companies
• Our Management Agreement with you is with zero-notice meaning you can leave at any time for whatever reason
• We give our block managers manageable portfolios so they are able to provide a good service to their clients
• We keep hold of good staff by investing in them and being an enjoyable place to work
• We also guarantee our service: if on or before 6 months of management you are not happy with the service then we will hand back the block and refund our management fee

This isn’t uncommon, however ultimately, as long as your building qualifies and 50% of you are in agreemnet, your freeholder can object but they can’t stop you.
No, the process is only open to leaseholders
Unfortunately not. Its one vote per property
Yes. As part of our process we have systems to enable us to get in touch with owners who live abroad, so we can help you with this
Based on a recent ruling, no. It looks clear that it has to be one company per building and application
Probably nothing. The main two things that get in the way though are a) not being to get agreement from 50% of the leaseholders and b) more than 25% of the property is found to be commercial space. Other than this, its your statutory right under the Commonhold Reform Act (2002), so go for it.
Unfortunately, not currently. That said, by forming an RTM Company you put yourselves in a much stronger position to challenge these costs, as you will be a cohesive body (of residents), armed with an agent who works for you (not The Freeholder)

Contact us to discuss how we can help

And out why around 15o groups of residents trust HAUS to look after them

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