RTM takes about five months and is usually achieved at little or no cost to leaseholders. The RTMF handles all the legal procedures on leaseholder’s behalf. Apart from attending presentations by potential managing agents and voting in the selection process, leaseholder participation is minimal and the changeover usually seamless.

RTM is exercised through a specially incorporated company, the constitution of which is prescribed in legislation. All leaseholders are entitled to be members of the company but their liability is limited in law to £1 per leaseholder. A minimum of two leaseholders will be invited to serve as directors of the company. Alternatively the RTMF can provide outside professionals to act on leaseholder's behalf.

Once incorporated your RTM company will serve legal notices on the landlord and managing agent and barring procedural irregularity leaseholders right to manage is determined a month later. The law requires a three-month interval before management is formally acquired, which provides adequate time to select and appoint the new management company.

Copyright 2009, RTMF. All rights reserved.