1. Canvas leaseholders to ensure minimum 50% participation
2. Collect funds to start application (see costs below)
3. Obtain and inspect all Land Registry Titles for all flats
4. Identify and collect information for RTM company directors
5. Form RTM Company
6. Have all participants sign an RTM company application
7. Formally invite the non-participants for the building (wait 2-3 weeks)
8. Prepare and send the RTM Claim form to freeholder
9. Answer questions and challenges from Freeholder’s solicitor
10. After 1 month, hopefully receive landlord’s agreement with RTM, or no response, which is a default agreement
11. Wait 3 months as defined in the legislation
12. RTM company takes over management responsibility and can select a new managing agent
If at step 10 the freeholder issues a Counter Notice refusing the RTM, there are additional options:
1. Withdraw the RTM Claim (freeholder legal costs still payable
2. Take a case for RTM to the Leasehold Valuation Tribunal (LVT)
There are two paths to take if taken to the LVT (LVT decides which is appropriate)
1. Paper decision – Send in an application, prepare the case arguments and statements (this is the most commonly requested)
2. In-person hearing – Send in an application, prepare the case arguments and statements and attend the oral hearing and present the case
NEW DEVELOPMENTS
Merritt has been involved in new build developments through two decades. In recognition of the importance we place on this area of our business and the specialist nature of the management requirements, we have a specific department at Merritt for this type of development. We are very proud of our association with several of the UK’s leading property developers.
• The property development industry has seen many issues in the last few years and demand for land is high. It is therefore vital that the project runs on time and within budget to ensure maximum return on investment. By outsourcing the management of the development from the onset, both time and money are saved.
• Service charge levels are important for both the developer and the prospective purchasers. At Merritt, we work closely with developers to ensure the service charge is set at a level that they are happy to bring to market, while providing adequate funds to ensure quality management.
• Unlike existing developments, previous financial information is not available for new developments. With our extensive experience, we are able to advise developers of the predicted ongoing maintenance costs.
• There is absolutely no cost to the developer. We charge our management fee pro-rata, out of service charges.
• The developer doesn’t incur the costs and time associated with dealing with property management.
• There is one point of contact for any issues raised.
• Provides residents with continuity after the completion of the project.
• Protects the developer’s good reputation.
If you are interested in finding out more about us or getting a quote, please call us on: 020 3797 1024 or email: [email protected]
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