The Process
The starting point for the RTM process is to establish whether or not the lessees meet certain qualifying criteria. Thereafter, a specific “Right to Manage” company must be formed by the lessees. This company, once the process has been completed, will be responsible for the management of the building on behalf of the lessees.
Once formed the RTM company will need to serve various notices to the freeholder and other lessees and a Memorandum and Articles of Association must be put in place. The lessees will then need to collate the necessary information to enable them to make an informed decision on how and by whom the building is to be managed once the Right to Manage has been granted.
It is a fairly straightforward process but one which benefits from professional input to ensure that all procedures are correctly followed. The process also requires careful preparation to avoid the freeholder from using legal loopholes to make the process difficult.
