Open RTM Company | Right To Manage ( Leasehold Management) Company Formation

Right to Manage Company(RTM)

A Right to Manage (RTM) company is a special kind of company that allows residents (leaseholders) of a building to take over the management of the building from the landlord. This means they can make decisions about things like maintenance, repairs, and other important management tasks themselves, instead of leaving it to the landlord or an external company.Setting up an RTM company can be a great way for tenants to take charge of their building’s management. It gives you more control, helps reduce costs, and improves the quality of service for everyone in the building.

Why Set Up an RTM Company?

Control Over Management : With an RTM company, the people living in the building get to decide how things are managed. This gives you more control over how the building is maintained and ensures that your needs as tenants are met.

Save Money : By managing the building yourself, you can save on service charges that would usually go to a third-party management company. This could mean lower costs for everyone.

Better Quality of Service : You can ensure that repairs and maintenance are done quickly and to a higher standard. Since the people living in the building are directly involved, things can be handled more efficiently.

Easier Dispute Resolution : If there are any issues between tenants or with the building, having a group of residents manage it directly can make resolving problems easier. You can work together to find solutions faster.

No More High Fees : External management companies often charge high fees for their services. By forming an RTM company, you can reduce or even eliminate these costs.

Who Can Set Up an RTM Company?

Only leaseholders (people who own a flat under a lease) can set up an RTM company. To be eligible, the building must meet certain conditions:

At least 2 flats in the building.

At least 66% of the flats must be owned by leaseholders with leases that last more than 21 years.

At least 50% of the qualifying residents must agree to join the RTM company before the claim is made to take over the management.

At least 75% of the building must be residential, non commercial. A Maximum 25% of the building can be used commercially.The building should be mostly residential.

At least one director and two members who are qualifying residents must form a RTM company.

If the building has 4 or fewer flats, the landlord or their family member must not have lived in one of the flats for at least 12 months.

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Right to Manage Company(RTM)

£89.99/yr.

Includes

Company house fees paid by us
Limited by Guarantee Company Incorporated within 24hrs
Email/Printed Memorandum & Articles of Association
Upload your own Bespoke Right to Manage Articles
Email/Printed Guarantor Certificate(s)
Free Online Company Manager to Maintain your Company
Free domain name .co.uk for 1 year
Free document delivery within the UK
Free Business Banking

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What Does the RTM Company Do?

Once formed, the RTM company can either: Manage the building directly or Appoint a third-party company to manage it for them.

Conditions Where RTM Doesn’t Apply

You cannot set up an RTM company if: The building wasn’t purpose-built as a block of flats (it could be a converted house).

The building has 4 or fewer flats, and the landlord or their family has lived in one of the flats for at least 12 months.

Financial Services

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