•the leaseholders will manage the building through a company and will need to learn about company procedures or to employ someone to advise them on such matters.
•people must be found to be officers of the RTM company, not just initially, but on an ongoing basis, as far into the future as anyone can see;
•the officers will have all the normal responsibilities of company directors as well as of landlords of residential property;
•the RTM company will be as vulnerable to criticism from lessees and residents as was the landlord. Some leaseholders are irrational in their expectations;
•there will need to be regular (but not necessarily frequent) meetings;
•there will be many technical matters to be dealt with, such as budgets and accounts, specifications and legal requirements; •there will be a need to keep the RTM company solvent, so leaseholders who routinely default on payment will prove a headache; •there may be difficult and sensitive issues in dealing with neighbours and fellow leaseholders;
•the company and its directors will be legally required to comply with a wide range of company, housing and health and safety law.
Right to Manage Info can assist you with your RTM. Please do not hesitate to get in touch for an informal chat.