RTM (Right to Manage) Companies

Right to Manage (RTM) companies are special entities formed by leaseholders of a building to_take control of managing the building's shared responsibilities, such as maintenance and service charges. This process, known as RTM, allows leaseholders to assume the management functions previously handled by the landlord or managing agent without needing landlord approval, provided certain legal criteria are met. Typically, at least 50% of leaseholders in the building must participate. RTM companies enable leaseholders to have greater say and control over their building’s management, potentially leading to improved efficiency and tailored service standards.