4 West Street, Rochford, SS4 1AL
Depending upon the structure of the lease, the provison of services to a development may rest with the freeholders, generally via their appointed managing agent. This is fine where the freeholders take their responsibilities seriously, consult with the leaseholders and employ a competent managing agent.
Where this is not the case the leaseholders may find themselves owning a property in a poorly managed development or where the cost of the services provided is disproportionately high, particularly in respect of items such as buildings insurance where the freeholders may retain a healthy commission.
The Commonhold and Leasehold Reform Act 2002 provides a right for leaseholders to transfer the freeholder's right to manage or appoint a manager for their building, to a company set up and controlled by the leasholders called a Right to Manage (RTM) Company.
Acting on behalf of the leaseholders, FSPM can provide the specialist advice required to establish the Right to Manage Company and to take control of the provision of services.