Establishment of an RTM Company and freehold purchase
Establishment of a Right to Manage Company on behalf of leaseholders
Fry & Co were asked for advice on taking over the management of a property where the freehold was owned by a firm of managing agents who were doing a poor job managing the building. They were also accused of overcharging.
On their behalf, we formed a Right to Manage Company (RTM Co) on behalf of the leaseholders and notified the existing managing agents of the leaseholders’ intention. The managing agents agreed to handover the management to Fry & Co.
We were able to reduce the annual service charge budget through careful scrutiny of the running costs. We then assisted the leaseholders in the purchase of the freehold providing them with full control of their property for the long term.