Managing agents of blocks of flats may soon be courting and caring for a totally new kind of client, namely a right to manage company (RTM), set up under Part 2 of the Commonhold and Leasehold Reform Act 2002, which is expected to come into force in the summer of 2003.
The relevant provisions, as well as the pros and cons of going down the RTM route, have been carefully considered by John Spencer-Silver, of Rooks Rider, in his article
The task of administering such a company where the flats form part of a mixed-use development promises to be problematic – or in John’s words “not for the faint-hearted”.
Related item:
PP 2002/127
Managing agents of blocks of flats may soon be courting and caring for a totally new kind of client, namely a right to manage company (RTM), set up under Part 2 of the Commonhold and Leasehold Reform Act 2002, which is expected to come into force in the summer of 2003.
The relevant provisions, as well as the pros and cons of going down the RTM route, have been carefully considered by John Spencer-Silver, of Rooks Rider, in his article Management power Estates Gazette 1 June 2002, p128.
The task of administering such a company where the flats form part of a mixed-use development promises to be problematic – or in John’s words “not for the faint-hearted”.
Related item: Manage to feel at home Estates Gazette 14 April 2001, p130.
