Right To Manage (RTM)?
Typically flats are managed by a freeholder
(through a management company or agent), who then charges a
monthly service fee for this function. This monthly fee often
becomes a big drain on your finances, and a remote freeholder is
not on-site to oversee works.
In contrast, all flats can be managed by a
Right to Manage Company which only has the interests of the
leaseholders as its concern, not a freeholder.
The RTM Company is responsible for all the "management functions"
under your lease that were previously the domain of the
freeholder. These include things like arranging insurance,
cleaning, dealing with repairs, redecoration of the building and
collecting service charges.
Our aim is to maximise the value of your investment by performing
maintenance properly and cost-effectively. A professionally run
management company, answerable only to the leaseholders that live
there, is by far the best way to achieve this.