Right to Manage: The Outcome (Part 5)

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Early last year we started the Right to Manage process for a scheme where Young London manage all the privately  rented units, with the remainder occupied by the owners.

The freehold is owned by The Consensus Group (part of the Vincent Tchenguiz empire).

On completion in summer 2008, County Estates (one of the Peverel/Consensus Group companies) was appointed to be the managing agents. As we had a good relationship with the developer we tended to deal with

the developer for a year of so post completion rather than County Estates when there were any issues to deal with.

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Roger Southam: Right to Manage Process

Roger Southam

Roger Southam

Roger Southam
Chairman and Chief Executive at Chainbow

Right to Manage (RTM) effectively strips away all the powers of the freeholder, excluding ground rent collection. It means the leaseholders are able to appoint the manager they want and have control of the running and services.

Requirements include: there has to be more than two flats, less than 25% commercial space, more than 75% of the flats let on leases over 21 years and you have to have at least 50% of leaseholders being members of the RTM company.

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