In order to form a right to manage company you need to follow the right procedures, you will also need to the support of your other leaseholders
It is advisable to hire right to manage solicitors to do this as they will be able to guide you through the process and give you the support you need. This article takes you through some of the best reasons to hire specialist right to manage solicitors.
One reason is that they can help you understand the law surrounding the right to manage [often referred to as RTM]. This right is granted by the Commonhold and Freehold Reform Act 2002, which lays out the requirements you need to meet. Your right to manage solicitors will be able to tell you whether you are eligible to form a right to manage company and will explain everything you need to know about the Act.
Your solicitor will also be an expert in how to form a right to manage company and that support will be massively useful as you go through the process, as there are certain things you will need to have in place to create your company. For example, they will be able to advise on setting up a board of directors and your articles of association, as well as filing your company formation paperwork to Companies House.
Another reason for hiring expert right to manage solicitors is so they can help you with the claim process. As part of the process, you will need to send an invitation to participate to all of the other qualifying tenants and your current landlord as they will all be eligible to play a role in your right to manage company. Your solicitors can also send the Notice of Claim to your landlord and advise you on what to do as a result of the landlord's Counter Notice. This will be particularly useful if you have problems with getting your landlord's agreement.
Specialist right to manage solicitors are also useful as they can help you with the necessary information gathering. For example, you will need to get details of existing accounts and management contracts relating to the premises in question and will also need details from bodies such as the Land Registry. They will be able to assist you in getting everything you need in order so you have the best chance possible of forming your RTM company with as few complications as possible.
It is advisable to hire right to manage solicitors to do this as they will be able to guide you through the process and give you the support you need. This article takes you through some of the best reasons to hire specialist right to manage solicitors.
One reason is that they can help you understand the law surrounding the right to manage [often referred to as RTM]. This right is granted by the Commonhold and Freehold Reform Act 2002, which lays out the requirements you need to meet. Your right to manage solicitors will be able to tell you whether you are eligible to form a right to manage company and will explain everything you need to know about the Act.
Your solicitor will also be an expert in how to form a right to manage company and that support will be massively useful as you go through the process, as there are certain things you will need to have in place to create your company. For example, they will be able to advise on setting up a board of directors and your articles of association, as well as filing your company formation paperwork to Companies House.
Another reason for hiring expert right to manage solicitors is so they can help you with the claim process. As part of the process, you will need to send an invitation to participate to all of the other qualifying tenants and your current landlord as they will all be eligible to play a role in your right to manage company. Your solicitors can also send the Notice of Claim to your landlord and advise you on what to do as a result of the landlord's Counter Notice. This will be particularly useful if you have problems with getting your landlord's agreement.
Specialist right to manage solicitors are also useful as they can help you with the necessary information gathering. For example, you will need to get details of existing accounts and management contracts relating to the premises in question and will also need details from bodies such as the Land Registry. They will be able to assist you in getting everything you need in order so you have the best chance possible of forming your RTM company with as few complications as possible.
Thinking of setting up a right to manage company? Bonallack and Bishop are specialist right to manage solicitors - talk to them first on 01722 422300 today.
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