Right to Manage
Right to Manage (RTM) is when the owners and occupiers of flats or apartments in a block take over the management and control of the building and common parts. This usually creates immediate savings on insurance and other costs and through the new RTM company a much higher degree of day to day control.
As specialists in all aspects of commercial property, we can help not only with establishing and setting up the RTM but also with providing access to the other professionals necessary to make your RTM work.
The main benefit in exercising the right to manage is that the tenants take control of the management of the block, which invariably saves them money as well as improving the level of service. The costs incurred in exercising the right to manage and setting up the management company are usually recouped in time through the savings made from taking control, in terms of the subsequent reduction in service charges, insurance premiums and other related charges.
The right to manage is effectively a regulated process, which we can handle for you, negotiating the legislative and technical administrative steps along the way, and ensuring that the transition is as smooth as possible.