At Hera, we are able to support Resident Management Companies (RMC's). The Right to Manage (RTM) was introduced through the Commonhold and Leasehold Reform Act 2002. It gives leaseholders the statutory right to take over the management of their property from the landlord by setting up a special company - a right to manage company.
RTM is an important right for leaseholders. They do not have to get the landlord's permission, prove any mismanagement or obtain any court order to exercise the right. But it does come with some very real responsibilities and it's not a decision that should be taken lightly.
Although the process is relatively straight forward, the qualifying rules and criteria can be complex. So we recommend anyone contemplating exercising this right should first read the detailed guide produced by the Leasehold Advisory Service (LEASE) you can review this advice on their website www.lease-advice.org
At Hera we are delighted to work with Resident Management Companies. If you are a director of a RMC and are looking for a managing agent, talk to us first. We'll give you all the help and guidance you need. In addition, we recommend that you read the ARMA Guide to Appointing a Managing Agent. This guide aims to provide basic guidance on how to go about appointing and employing a managing agent and is particularly relevant if you are a director of a resident management or right to manage company.