How Do You Start Right To Manage Companies? - By: Tim Bishop

You have found out about the right to manage your block of flats and this is something you think is worth pursuing. Therefore you need to find out the ins and outs of the process, who do you approach for the specialist advice? Do solicitors actually specialise in RTM?

The legislation in control of the right to manage is the Commonhold and Leasehold Reform Act 2002; it gives the owners of flats in buildings the right to take over the management of that block of flats by setting up right to manage companies.

Taking over the right to manage flats can be a bit of a tricky process and a DIY approach is not advisable. A solicitor specialising in this area of law will help and advise with the different aspects of the process and some relevant points, such as:

- at least half the owners of the flats have to agree to take over the RTM.

- all the residents must have a lease longer than 21 years.

- you have to invite all residents, and the landlord too.

- there's no need to prove the current managing agent is not doing a good job.

- it is not necessary to get the landlord's consent.

- the RTM will affect your block only.

Bear in mind that you will need to create a limited company which is a necessary step towards acquiring the right to manage your flats. The limited company created will become the legal body responsible for looking after the building i.e. its maintenance and management. Seek advice from your right to manage lawyer; he or she will have the relevant experience to make sure that you are compliant with all necessary rules and regulations, which will make the process as effective as possible. Also they will assist you with the creation of the right to manage company, which is mandatory and must be registered at Companies House.

When the process is complete and you take over the management of your block, make sure that you are aware of all the contracts the previous landlord and managing company have in place. If there are any relevant contractors you will need to warn them about the change of management.

You experienced solicitor will be vital in dealing with complex processes associated with this area of the law. It might help you if you gain a little knowledge about the law around making a right to manage company before you start any processes. Even if you gain an employee to run the company on your behalf, it will help you know the process.

About the Author

Bonallack & Bishop solicitors specialise in the right to manage flats. If you need advice on right to manage companies, contact them today. Tim Bishop is senior partner at the firm, responsible for all major strategic decisions. He has grown the firm by 1000% in 13 years and sees himself as a businessman who owns a law firm.

Article Directory Source: http://www.articlerich.com/profile/Tim-Bishop/62652

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