The Right to Manage (RTM) is a legal option for leaseholders (flat owners) to take control over the way their building is looked after and to decide how their money is spent. It was first introduced through the Commonhold and Leasehold Reform Act in 2002.
Welcome to our guide on Right to Manage vs Collective Enfranchisement. Whether you’re a flat owner, tenant or landlord, this guide will help you understand the intricacies of these two important legal rights that can affect your property.
The Freehold Collective, a partnership dedicated to helping leaseholders acquire the Freehold of their building, has been recognised as the winner of a brand new award, Project Manager of the Year, at the prestigious Enfranchisement & Right to Manage Awards.
Most people assume the difference between a leaseholder and a freeholder is simply a matter of terminology. It is not. Consider a situation where a buyer purchases a top-floor flat on a 125-year lease, believing the building is as much theirs as anyone else’s, then paints the exterior walls during a renovation. The lease prohibits […]
A peppercorn ground rent is effectively zero: a nominal amount with no monetary value, used to preserve the legal structure of a lease without imposing any real cost on the leaseholder. It is now required for most new residential long leases, but it does not automatically change older leases with escalating ground-rent clauses. For those […]
A Right to Manage (RTM) Company is a special type of residents’ management company whose members can usually only include the leasehold property owners (qualifying leaseholders) of the flats themselves.
Understanding the deferment rate is crucial for flat owners and landlords navigating lease extensions and freehold acquisitions. This rate, a key component in determining the premium payable, can significantly affect financial outcomes. As the residential property market undergoes shifts, stakeholders must stay informed about potential changes to the deferment rate, which may soon be reviewed.
Service charges can be a contentious subject, especially if leaseholders aren’t aware of their legal rights. So, understanding what they must do, and what protection they have, in the face of paying service charges, is important for all tenants.
When you first approach buying the freehold, it can seem complex. Many leaseholders who wish to purchase their freehold often wonder where they should start, and do not have the complete picture of exactly what’s involved at each stage of the process.
When landlords or freehold owners want to carry out qualifying works to their freehold property, a piece of legislation must be issued that ensures the work is carried out lawfully and with leaseholder permission.
