The right to manage gives leaseholders the power to take responsibility for the management of the block (building) in which their apartment is situated.
You will need to ensure your building meets the requirements:
- At least 2/3rds of the flat/apartment owners within the physical block must have long leases (originally of 21 years or longer at the time of issue)
- At least 50% of the flat owners must want to go through the process
- No more than 25% of the block may be used for non-residential use (this excludes car parks and common areas connected with the flats
- The right to manage is available to leaseholders of flats, not of houses.
When the above points have been satisfied, Omnicroft Residential Property Management can assist you through the right to manage process. Once the right to manage has been acquired, the new company formally takes over responsibilities for management of their building(s).
The new company then has a number of property management options:
- It can manage the property directly – this can be a major task if the block is more than six properties
- It can keep the existing managing agent
- It can appoint a new managing agent.
If you are unsure, please do not hesitate to contact us and our Kent based staff will be happy to advise. More information on Right to Manage can be find on ARMA’s website.