January 4, 2011 Leave a Comment
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.