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Right To Manage company formation

The Commonhold and Leasehold Reform Act 2002 empowers leaseholders in flats to force the transfer of the landlord's management functions to a special "right to manage company" or "RTM company" set up by them.

This right to manage may be exercised by serving notice to the landlord that the leaseholders are transferring the management of the flats to their right to manage company (the RTM company).

We strongly recommend that you seek legal advice prior to exercising rights under Commonhold and Leasehold Reform Act 2002 and setting up a right to manage company and at the very least check out the legislation on http://www.opsi.gov.uk

Right to manage does not necessarily mean self-management in a physical sense but rather a right to transfer from the landlord to the right to manage company the daily responsibilities and decisions if the RTM company so wishes.

A right to manage company must be set up and run in accordance with statutory requirements and is a company limited by guarantee and registered at Companies House. The Memorandum and Articles of Association, which is the company's constitution, are prescribed by law the right to manage format must be followed to be effective.

Where accountants buy from Freephone 0800 085 45 05
Landline 0161 798 9999
UK Company Formation Agent: Stanley Davis Group Limited t/a Formations Direct Co. Reg.No. 2413680 (England). VAT Reg No GB 798 4562 62. All information on this web site is ©2001 – 2020.
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