New right to manage
Driscoll, J
New right to manage - 2002 - Solicitors' Journal 146(25) 28 June 2002, 588-590(3) .
The third of four articles on the Commonhold and Leasehold Reform Act 2002 discusses the introduction of a new right to manage (RTM). The RTM will enable a group of leaseholders to takeover the management and running of the block containing their flats, and is likely to come into effect in the middle of 2003. Explains the procedures for establishing the RTM, such as setting up a RTM company, and outlines the qualifying rules for the RTM. The RTM company must serve a claim notice on the landlord and the landlord is entitled to serve a counternotice in response. Discusses the management of the block by the RTM company, highlighting how this affects the roles of flat leaseholders and landlords. Summarises the effect of RTM on existing block management contracts and considers circumstance where a company is no longer entitled to exercise the RTM. For other three articles see ABS65742, ABS65743, ABS65745, ABS65964.
COMMONHOLD AND LEASEHOLD REFORM ACT 2002
RIGHT TO MANAGE
BLOCK OF FLATS
LEASEHOLDERS
MANAGEMENT COMPANY
LEASEHOLD REFORM
New right to manage - 2002 - Solicitors' Journal 146(25) 28 June 2002, 588-590(3) .
The third of four articles on the Commonhold and Leasehold Reform Act 2002 discusses the introduction of a new right to manage (RTM). The RTM will enable a group of leaseholders to takeover the management and running of the block containing their flats, and is likely to come into effect in the middle of 2003. Explains the procedures for establishing the RTM, such as setting up a RTM company, and outlines the qualifying rules for the RTM. The RTM company must serve a claim notice on the landlord and the landlord is entitled to serve a counternotice in response. Discusses the management of the block by the RTM company, highlighting how this affects the roles of flat leaseholders and landlords. Summarises the effect of RTM on existing block management contracts and considers circumstance where a company is no longer entitled to exercise the RTM. For other three articles see ABS65742, ABS65743, ABS65745, ABS65964.
COMMONHOLD AND LEASEHOLD REFORM ACT 2002
RIGHT TO MANAGE
BLOCK OF FLATS
LEASEHOLDERS
MANAGEMENT COMPANY
LEASEHOLD REFORM