We can assist with an RTM company startup: an RTM - or right to manage companies give the power of managing a flat or apartment to a management company chosen or run by the tenant, rather than leaving the management to a landlord. Often this gives the tenant more control over costs and services associated with their flat or apartment.
Creation of an RTM company is a long process and must be handled correctly, with sound legal advice before and during the process. To create an RTM leaseholders must qualify, and qualifying leaseholders must make up at least two thirds of the tenants within the building. The building must consist of a minimum of two flats or apartments and a qualifying leaseholder has a tenancy of 21 years or more.
The RTM can be managed by the people within the building - who must all be officers - or assigned to an outside manager who will handle the day to day running of the company. This management will cover services and costs for things like: -
1. Maintaining the communal areas within the building
2. Maintaining the building and upkeep or repairs that this may entail
3. Handling any complaints residents may have
4. Collecting and agreeing the service charge
5. Managing the communal bin or garden areas to ensure they are properly maintained and clean and tidy
6. Decorating the communal areas and keeping them clean
7. Approaching any tenant or resident who damages or negatively impacts the building or residents
Registering an RTM company is a long process, and can be complicated, particularly as a number of people must be involved and agree the terms, and the landlord has the right to be a member.
We can take care of your registration of an RTM company in England, Wales, Scotland and Northern Ireland, and take the difficult process out of your hands to make the application, registration and transition to running your RTM and taking control of the management of your home into your own hands as straightforward as possible.
Though this process takes time it doesn't need to be difficult, and should you wish to assume control over the management of your building an RTM company is the logical step to take. It can be daunting to create an RTM company alone, so taking legal advice and guidance from professionals who are experienced in registering RTM companies can save you from mistakes or missing vital details from the agreements.