RTM
When the Commonhold and Leasehold Reform Act 2002 came into force it introduced the Right to Manage (RTM).
Below are some useful articles on RTM...
Articles in this category
The Commonhold and Leasehold Reform Act allows leaseholders to form a Right to Manage (RTM) company and take over the responsibility of the management of their block. The responsibility for all the usual services such as general maintenance, cleaning, gardening and insurance of the block etc., would then fall to the RTM company.
Right To Manage - Insurance costs
Often, the landlord or managing agents charge excessive amounts for buildings insurance. The agent or the freeholder collects a nice sum for themselves in commission for giving an insurance company the business.
Can you manage without an agent?
Many leaseholders do manage their buildings themselves competently and successfully, preserving the value of their investment in the flats and saving in management fees.
You should be clear what tasks you want the agent to carry out. It is prudent to set these out in the form of a specification, to be evaluated by prospective agents as a tender.