Situation:
A development of 30 apartments built in 2012.
Residents were facing high management and service charges with poor service from a private landlord who owns the freehold. RPMS successfully took residents through the Right to Manage (RTM) procedure, enabling them to form their own management limited company with each flat owner being a member and shareholder of that company.
The result was to cut the service charges by almost 50%, while still maintaining a healthy reserve.
This also increased the desirability of the apartments due to now having well managed and maintained buildings and much more affordable service charges which were determined by residents within a pre-agreed budget controlled by RPMS.
Key points: Professional Knowledge. Clear support from Leasehold owners. RPMS’s understanding of the complex legal and time sensitive RTM process.