Page 7 - right_to_manage

A step by step guide to right to manage 6

Advisory bodies are agreed that leaseholders should be encouraged to initially appoint a
managing agent, even if their long-term aim is to manage the block themselves.
Here are our three suggested ways to manage your block going forward:

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managing agent

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The landlord must also fulfil his/her duties as part of the handover as follows:
▪ He/she must inform any contractors currently providing services to the block that RTM
is being exercised. The landlord must inform the RTM Company of any existing contracts
concerning the block.

▪ A full and clear picture of the block's accounts must be provided. Any leftover service
charge revenue must be transferred to the RTM Company on the acquisition date.
Before funds are transferred the landlord will need to settle any outstanding bills with
contractors. This process may take some time.
For a more detailed description of the RTM timeline view the RTM Flowchart

RTM Company duties

From the date of acquisition the RTM Company takes over the landlord's responsibilities for the
maintenance, repair, collecting service charges and accounting, insurance and overall
management of the block.

Existing service charge funds are handed over to the new company while contracts are either
transferred or terminated, as appropriate.

After the handover the landlord's position is similar to that of a leaseholder and as such is also a
member of the RTM company. Like any other leaseholder in the block he/she may sue the RTM
company for bad performance or apply to the FTT.

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