Costs and Fees of the Right to Manage (RTM) Process
Completing the Right to Manage process on a NO WIN NO FEE basis, when appointed Managing Agent on completion.
At AM Surveying & Block Management we offer some of the most favourable Right to Manage fees available in the industry.
NO WIN NO FEE Right to Manage
If AM Surveying Property Services is to be the appointed Managing Agent on completion of the RTM process we will undertake the RTM acquisition on a no win no fee basis, and with very competitive fees.
This is also a demonstration of our confidence to successfully acquire the Right to Manage on behalf of our clients.
Claim the Right to Manage your block at £35 plus VAT per flat plus disbursements (for Land Registry and Postage costs).
Other Costs to Consider:
Freeholder’s reasonable legal costs:
The RTM Company is liable to pay the reasonable legal costs of the Freeholder. You need to ensure you are prepared to pay for these. This is a charge levied by the Freeholder’s solicitor directly and we have no control over this. If they levy a charge and you consider it too high you can apply to the Tribunal for them to determine if the cost is reasonable.
In our experience the Freeholder's legal costs would be £600 + £25 per flat up to a cap of approximately £3,000.00.
If the case must go to the Tribunal:
If the Freeholder denies the RTM Company has the right to acquire the Right To Manage it is likely an application must be made to the First Tier Tribunal (FTT). There is no alternative to this, even though it is highly likely the Freeholder will have no valid reason for denying the right.
Further agent's fees would be payable to cover the additional work involved to prepare for the hearing and also for attending the hearing, these would be approximately £1,000.00 plus VAT. In the unlikely event your RTM claim is not successful at the Tribunal, the RTM Company would be liable to pay the reasonable legal costs of the Freeholder. We would estimate that these are likely to be around £1,500 + VAT.
Contact Us if you are thinking of taking up your Right to Manage and we would be pleased to advise how we can help you.
SPEAK TO THE TEAM
Contact the Block Management | Right to Manage team
01732 220 598