Pinnacle Property Management can assist you in the setting up and operation of a Right to Manage scheme for your block of flats.
What is right to manage?
October 2003 saw the introduction of one of the most important and controversial reforms in Landlord & Tenant legislation to date: the tenants’ Right to Manage.
Long awaited, this right enables 50% of the long-leasehold tenants of qualifying blocks of flats to take over the management of their property, without having to prove fault on the part of the landlord or existing agent. Qualifying blocks must be self-contained, comprise two or more flats and have no more than 25% of space devoted to commercial use. At least two-thirds of all the flats must originally have been let on leases of 21 years or more.
The qualifying group of long leasehold tenants are required to form a ‘Right to Manage.’ company whose special articles of association have just been finalised by central government. All other leaseholders, and the Landlord, must be invited to become members of the Right to Manage. Company. After the necessary protocols have been followed, a date is fixed for the transfer of the management to the tenants’ Right to Manage. Company or its chosen agent.
Please contact us to discuss your specific needs further.