RTM gives leaseholders the legal right to take over the management of their building from the freeholder, without needing to purchase the freehold. This allows residents to appoint their own managing agent and have full control over service delivery, costs, and standards.

The cost of undertaking RTM is typically around £95 + VAT flat as a one-off fee.
Importantly:

• There are no upfront costs for leaseholders

• Costs are only payable if the RTM is successful

• The cost is not immediately payable and is usually recovered once a full handover from the current agent to the newly appointed agent has been completed

You will still pay service charges under RTM, as the building continues to require insurance, maintenance and day-to-day services.

The key difference is how that money is managed, controlled and scrutinised.

Once at least 50% of qualifying leaseholders have joined the RTM Company, the formal legal process typically takes around 5 – 8 months to complete (takes about 5 months if not contested and around 8 months if contested.

If you are a leaseholder, you are generally eligible to:

• Become a member of the RTM Company

• Take part in votes and decision‑making (subject to the company’s Articles)

Further details of eligibility and voting rights will be set out in the company documents and membership form. In practical terms, if you own a flat here, we want you involved and represented.

Yes. The RTM process does not change the obligation to pay ground rent, as the freeholder still owns the land.

Directors are volunteers and receive no salary or financial benefit. The founding volunteers are those who initiated the RTM process. Once RTM is established, we will transition to an elected board.

Yes. Under RTM, the managing agent is appointed by and accountable to leaseholders—not the freeholder. This typically leads to improved service levels, better communication, and performance-based management.

The Board oversees the managing agent and ensures the building is run in the best interests of leaseholders. Their role includes:

• Appointing and managing the managing agent

• Monitoring performance through KPIs

• Approving budgets and major works

• Ensuring transparency and communication

The RTM Board will be overseeing building management. The annual service charge budget will be set at the start of each year and reviewed at the Annual General Meeting with leaseholders.

The RTM Board sets spending limits for day-to-day repairs.

For major works (typically over £250 per leaseholder), a formal Section 20 consultation will be followed.

This ensures transparency and gives leaseholders a say in significant expenditure