The Commonhold and Leasehold Reform Act 2002 provides the right for leaseholders to get the transfer of the landlord's management functions to a company set up by them - the right to manage company.
The right was introduced, not just as a means of taking control from bad landlords, but also to empower leaseholders, who generally hold the majority of value in the property, to take responsibility for the management of their block.
The process is relatively simple. The landlord's consent is not required, nor is any order of court. There is also no need for the leaseholders to prove mismanagement by the landlord. The right is available, whether the landlord's management has been good, bad or indifferent.
The right is exercised by the service of a formal notice on the landlord. After a set period of time, the management transfers to the right to manage company (the RTM company) which has been set up by the leaseholders. Once the right to manage has been acquired, the landlord is also entitled to membership of the company.
Urang would be pleased to take you through the RTM process for free if you commit to appointing us to manage the property (London only)
for more information contact Paul Cleaver
020 7751 8356 or email email@example.com