What is Right to Manage?

Right to Manage Overview

As a leaseholder in a multi-unit property, you pay into a fund for building maintenance but have no say in how those funds are used or other management decisions. The freeholder controls these functions, which may lead to issues like poor repairs, lack of communication on financials, or other areas of dissatisfaction—even if the freeholder is satisfactory, leaseholders may want more input.

Fortunately, leaseholders have options. Through the Commonhold and Leasehold Reform Act 2002, leaseholders comprising at least 50% of the building’s units can establish a Right to Manage company to gain control of management responsibilities without the freeholder’s agreement. A Right to Manage company requires directors to oversee decision-making on behalf of participating leaseholders.

This transfer of control also means assuming responsibilities like repairs, maintenance, capital projects, financial reporting, tenant issues, insurance, health and safety compliance, and meetings. While a significant undertaking, contracting with an experienced property management company can perform most duties, relieving the company’s directors of day-to-day operations.

It’s important to note exemptions, like buildings with housing authority tenants. Each building must independently meet Right to Manage requirements if part of a larger development.

Our company would be pleased to guide you through the Right to Manage process so your property has functional, participatory management that enhances unit values for all homeowners. Please contact us if you would like to move forward with establishing control through this option.

Free Budget Assessment

Valor Block Management aims to reduce costs by conducting a free budget assessment from our initial meeting and annual expenditure analysis of all contracts and spending. Our goal is to ensure the service charge budget is as accurate as possible so that sufficient funds are available for the upcoming year and to avoid requiring additional money later.

For guidance on property block management in Yorkshire, please feel free to contact us or visit our head office in Leeds.

Angels Wing 3, Hunslet, Leeds, LS10 1AF
0113 222 4537
Info@valorproperties.co.uk
www.valorproperties.co.uk

Webpage summary:
Valor Properties offers a variety of real estate services including brokerage, property investments, management, and maintenance.

Valor Properties is an award-winning property management company located in West Yorkshire. The company specialises in property investments throughout Yorkshire, aiming to provide high-quality tenants and strong returns for investors.

Valor Properties provides a comprehensive management package for landlords, handling tasks like tenant selection, legal compliance, and upkeep.

Valor Properties has earned a five-star rating on an independent review site.

A member of our team would be pleased to discuss your property needs.

Bethany Nicol February 2024