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Right to Manage
One of the most commonly quoted frustrations of owning a flat is the way in which the block is managed by the freehold owner or management company. Essential maintenance works can be slow to materialise and expensive.
A well managed block keeps costs low for the owners of the flats by ensuring there is a programme of planned maintenance and improvements and an appropriate tendering process is in place to ensure good quality work for the best value. Unfortunately not all blocks are run in such a way.
Owners of flats will often say that they could probably do a better job. Few realise that could actually be a reality.
The owners of many blocks of flats have a legal right to collectively take over the management of their block provided they meet some basic qualifying criteria. You will need a majority of the flat owners to be involved with the process but provided you can gain sufficient support you could be closer thank you think to getting control of the management of your block.
The Right to Manage is available to all that qualify and there is no requirement to show the block is currently badly managed.
It can be a cheaper alternative to buying the freehold if your main concern is the management of the block. You do not become the freeholder but you do take over responsibility for managing the block and administering the service charge.
There is no premium to pay to the freeholder to take over management but you will be required to pay their legal costs.
If your block has very few flats then it might be possible for the leaseholders to collectively manage the block. In larger buildings with many flats it might be more appropriate to appoint a professional managing agent. The benefit is that you are in a position to appoint an agent of your own choosing and replace them if they underperform. You will not be stuck with an agent chosen by your freeholder who can remain regardless of their poor performance.
To take over management of your block there is a specific statutory procedure to follow and it is essential that each step is dealt with properly. At Martin Tolhurst Solicitors our expert lawyers have experience navigating the statutory framework to enable leaseholders to achieve the freedom of self management.
Call our New Enquiries team on 0800 0271452 to arrange a no obligation conversation with one of our experts.