1. RTMF give presentation to Leaseholders.
  2. RTMF forms RTM Company according to statutory memorandum and articles.
  3. All Leaseholders invited to become members. 50% required to proceed. Liability limited to £1 per member. Members give good-faith refundable deposit towards RTM costs.
  4. RTM Company serves s.78 Notices Inviting Participation of non-members.
  5. With 50% membership, after 14 days RTM Company serves s.79 Notice of Claim on Landlord.
  6. Landlord may serve s.81 Counter Notice within 1 month. Only legal ground is if procedure has not been followed. Minor inaccuracies are discounted.
  7. If no Counter Notice RTM is determined after 1 month. (Determination Date).
  8. If Counter Notice is served RTM Co can take matter to LVT (within 2 months). Determination date is either date the Landlord withdraws Counter Notice or date the Counter Notice is decided by the LVT (allowing 21 days for appeal).
  9. Following Determination Date, Landlord must serve s.92 Contractor and Contract Notices to advise of RTM.
  10. Following Determination Date RTMF invites members to join a Manager Selection Committee.
  11. Manager Selection Committee selects a short list of 3 potential Managing Agents.
  12. RTMF prepares tender documentation and invites tenders from three nominated agents.
  13. Two Managing Agents invited to give presentations to all leaseholders.
  14. Manager Selection Committee makes final recommendation of Managing Agent.
  15. RTMF arranges Extraordinary General Meeting (EGM) of RTM Co members to vote on Selection Committee recommendation.
  16. If appointment approved at EGM, RTM Co completes agreement with nominated agent. New Managing Agent pays RTMF fees and RTMF refunds leaseholders deposits.
  17. Three months after the Determination Date RTM Co acquires RTM (Acquisition Date). Landlord/Manager hands over management/funds etc to new Managing Agent.