Right to Manage Costs

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  • Gordon999
    replied
    There is a free guide to RTM which can be downloaded from www.lease-advice.org.

    To set up RTM, you should get support from 51% of leaseholders in each building ..

    Leave a comment:


  • Pariah81
    started a topic Right to Manage Costs

    Right to Manage Costs

    Hi,

    I am part of a residents association that is exploring right to manage (RTM).

    We are a 30 flat block in the Ealing area.

    We want to get advice on the process so how much should we be expecting to pay for our legals?

    I'm also aware we have to pay for freeholders legals which I estimate at £3k based off comments elsewhere on the forum. Is that realistic?

    Our block is 1930's build which had an extension on it some time after but we also have a separate building (garages with some flats on the upper level).

    I understand we will need two RTM's as each building needs to be done separately. Is that correct? Will that potentially double the freeholders legal costs?

    Is it typical for the residents association that assumes management to pay a salary to its key members? e.g. treasurer, chair etc?

    100% of flats may not participate and I understand that costs of RTM can't directly come out of the service charge. To get around this, and in order for fairness, I'm thinking of giving a small salary to the residents who paid for the RTM process equivalent to the extra money they have to put in because not everyone financially contributed.

    Thanks in advance!



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