PLJ & Right to Manage (RTM)

At Philip Laney & Jolly we have experience in dealing with both the acquisition of Right to Manage (RTM) status and working with RTM Companies in our role as Managing Agents.

How does it work?

- Initial consultation meeting with Tom Barter, Managing Director of Philip Laney & Jolly in order to understand the rationale for the proposed move to RTM for your block and the requirements that you would have as part of the RTM process and then future management of your site.

- Subject to the site being viable for RTM, we can source suitable RTM Acquistion specialists to act for your proposed new Company and then conduct a video meeting with the proposed Board of Directors for the RTM Company to further explain the process and provide a summary of costs

- The specialist RTM Acquisition Company then work on behalf of the new RTM Company to obtain the RTM status (for example liaising with the proposed shareholders, serving of notices to the Freeholder etc)

- In conjunction with the RTM legal process, Philip Laney & Jolly work with the Board of Directors to produce a service charge budget based on the desired changes to service providers, ready for the inception of the new RTM Company taking control of the site

- Philip Laney & Jolly commence as Managing Agents for the site, working with the Board of Directors for the RTM Company as per our Block Management Services.

Why PLJ & RTM?

- Shareholders and Directors can take control of the site and set service charge budgets, arrange insurances (subject to Freeholder approval as part of the RTM inception process) and appointment of contractors and maintenance works

- Our clients often choose to utilise more local contractors, which can improve service and reduce cost lines

- Directors of the RTM work with PLJ as Managing Agents to plan for major works and long term planning

- Regular meetings between the RTM Company and PL&J help to keep progress on track and provide transparency on cost lines and service charge income

- Leaseholders may feel that RTM provides a more cost effective way in which to take control of their site rather than enfranchisement (collectively purchasing the Freehold for the site).

For more information please contact Tom Barter on 01684 580974, or email tbarter@philiplaneyjolly.co.uk