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Leaseholders gain the right to manage their block
Town & City can guide you through the maze
Radical new powers enabling residential leaseholders to take over the management of their blocks came into force recently under the latest provisions of the Commonhold and Leasehold Reform Act 2002. Qualifying leaseholders living in residential blocks have now gained the right to take over the management of their blocks without having to prove either fault on the part of their landlord or pay their landlord compensation. The legislation empowers leaseholders, enabling them, by following this Right to Manage (RTM)/ Appoint an Agent route, to take a greater degree of control over the level of service charges set, to be able to appoint their own choice of managing agents, and to select their own insurers. The final provisions of the Commonhold and Leasehold Reform Act – which will include, among other measures, new procedures to make enfranchisement of flats easier, prevent forfeiture on “trivial” grounds and introduce new accounting and other requirements, are yet to be implemented. Although the principles of Right to Manage/ Appoint an Agent are straightforward, the practical consequences are far more complicated. Exercising the right is subject to a raft of rules and procedures, and the liabilities, faced by participants, could be onerous. Anybody contemplating taking this step will need to be extremely well advised and take professional advice. With our offices in Darlington, Sheffield and Newcastle-upon-Tyne, we are able to provide just such professional advice. We specialise in looking after blocks of flats in the North of England; we are Associate Members of ARMA (Association of Residential Managing Agents) and by working closely with LEASE (the Leaseholder Advisory Service), we are well placed to provide any assistance to leaseholders considering their options now that the new rules have come into operation. We believe in the personal approach and take pride in using local businesses and contractors to help with the management of the leasehold buildings we manage. |
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Block Management | Residential Block Management | Residential Management Agent |
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