Most Right to Manage applications made because there have been worries about the poor or overpriced management of the block. This can mean that the owners of the flats in the block can be unwelcoming or even hostile to new managing agents. The owners of the flats therefore need to think about whether to use a managing agent, or manage the block themselves.
With larger blocks, it is usually better to look for a professional and experienced managing agent.
Good management of your block – the need for information
It is also vital that the new managing agent is given all of the information about the management of the building. This includes the contracts and copies of any lease in existence before the right to manage was granted, financial records and accounts books.
All records and books will have to be inspected carefully – in particular the company which has recently been granted the right to manage may well be looking to renew some of the contracts or leases.
The need for good communication
Another important factor is a good level of contact between the leaseholders and the new managing agent. Flat owners should make their expectations clear from the outset in order to create a professional relationship which should keep everyone happy. Putting together a list of jobs which need to be done and prioritising this list should make it clear what needs to be done in the building.
A regular point of contact should be established through the holding of regular monthly meetings, at least for the first six months after the right to manage is granted. The directors of the Right to Manage company should also meet regularly with the owners of the flats to make sure that they are happy with the way things are going, and so that the directors can communicate better with the managing agent. It is also good practice for the managing agent to introduce themselves to the flat owners by writing a newsletter outlining the situation and detailing what plans they have for the building.
Your RTM company – prioritise the outstanding jobs
There are usually many repairs and other job which have to be addressed immediately after Right to Manage is obtained. It is really important that these issues are dealt with as soon as possible. Flat owners in the block will be pleased to see problems being dealt with too. Even with medium-sized blocks, if there has been a lengthy period of poor management and maintenance, it might well be worth employing a Property Manager for the initial period so there is someone to supervise any repairs and maintenance jobs.
Getting the right block insurance
When looking for buildings insurance, working with the flat owners can be very cost effective. Any money which is saved from a cheaper insurance premium, can then be reinvested into improving the building, for example for window cleaning or other maintenance issues. Working closely with the owners of the flats should mean that the management of the building is more effective, and will improve relationships between the flat owners and the managing agent.
When it is done properly, getting the right to manage can be hugely effective. Finally, make sure to inform owners of the flats as early as possible about any proposed changes to the management of the building.
Looking for Solicitors to help you exercise your Right to Manage. Call our Specialists
So if you’re thinking of taking over the right to manage your block, and you are looking for the right legal advice, don’t hesitate to get in touch.
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Comments or questions are welcome.