Clear-Cut Leasehold Property Services
Chase Property in Eastbourne, East Sussex, is your reliable source of support for leasehold ownership with leasehold property services. A smart move may be to exercise your power to manage your own building.
Right to Manage (RTM)
Successfully take control of the running of your building. We help make the process smooth and as stress-free as possible for all concerned. In 2003, the Commonhold and Leasehold Reform Act provided a statutory right for leaseholders to force the freeholder to transfer the management of the building to an RTM Company, without the need to show that the landlord was not or is not carrying out the obligations of repair or management. In addition, no compensation is payable for exercising the right.
Reasons and Requirements
The usual reasons for leaseholders wanting to set up an RTM Company are a general frustration in the way the block of flats is being run or an absentee landlord (freeholder) with no appointed manager. If you wish to exercise your right to manage, the following criteria must be met:
Law - Reasons and Requirements
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The Percentage of the Block Used for Residential Purposes Must Be No Less Than 75% of the Whole (This Does Not Include Car Parks or Common Areas)
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The Property Must be Self-Contained and Include at Least Two Flats
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50% of the Flat Owners Must Want to Create an RTM Company
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Two-Thirds of the Flat Owners Must Have Leases That Extend for More Than 21 Years
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The Right to Manage May Only Be Exercised By an RTM Company
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Professional Assistance
If you think that any of the above applies to you, we would be pleased to help you with the process of setting up an RTM Company and guiding you through the process.
Contact Us to Make an Informed Decision with Our Knowledgeable Leasehold Property Services