right to manage
Why would you want to exercise the right to manage?
For a number of reasons. The main reason is to ensure that your building is managed properly, as a well managed building may increase the value of the properties and will almost certainly make your flat more appealing to prospective purchasers. Additionally, you would have some control over the granting of consents for such things as carrying out alterations to the individual flats, notwithstanding any restrictions outlined in the lease.
Exercising the Right to Manage would allow you to choose who manages the building and even allows you to manage the building yourself, if preferred.
The Commonhold and Leasehold Reform Act 2002 allows leasehold tenants the right to pursue the “Right to Manage” their block of flats, subject to fulfilling the following criteria.
- 2/3rds of the flats must be let to qualifying tenants (i.e. a long leaseholder with alease term of 21 years or more)
- At least 50% of the “qualifying tenants” within the block of flats must agree to participate
- No more than 25% of the block may be used for non-residential use (excludes car parks and common areas connected with the flats)
- The building must be a self-contained block of flats (converted or purpose built)
If your block fulfils the above criteria then it is likely that you will be able to pursue the Right to Manage process to a satisfying conclusion, although there may be a small number of legal issues that may arise, which we shall advise you of during the process.
now professional property management will guide you through the Right to Manage process which includes:
- Assisting in the formation of your Right to Manage company
- Appointing and liaising with legal representatives on your behalf
- Updating you regularly on progress made
- Meeting with Leaseholders to answer any questions, if appropriate
- Liaising with the freeholder on your behalf and serving appropriate notices
- Dealing with the Leasehold Valuation Tribunal, if applicable (attending hearing will incur an additional cost)
Once you have successfully achieved the Right to Manage, you will be able to decide whether you wish to self manage or if you would like to appoint a management agent to manage on your behalf.