How to Control Your Service Charge
How to Control Your Service Charge
In a time of escalating costs, flat owners can still get value for money from their service charges using their Right to Manage on the mi-blox platform.
What is Right to Manage?
Right to Manage allows leaseholders of flats to take over the management of their property either by managing it themselves or by appointing their own managing agent. By so doing, the costs involved with running the building can be more diligently managed and become more transparent.
Will my service charge be cheaper?
In our experience, where leaseholders manage a building themselves, or appoint their own managing agent, they are able to control costs much more successfully. They can ensure that money is not wasted and that the best price for services is achieved. Costs become transparent.
Is this the same as buying the freehold?
No. Whilst the leaseholders will manage the building, the freeholder will still retain overall ownership. However, their control over the day-to-day management of the building will cease.
Is Right to Manage cheaper than obtaining the freehold?
Yes! You do not need to pay a premium, only the costs associated with exercising this right. It is a significantly more cost-effective solution for most leaseholders.
Can the freeholder stop us doing this?
The Right to Manage is a right. The freeholder can only challenge on the grounds that the building does not qualify for RTM or that there is a defect in the paperwork. Our system ensures that defects do not occur.
I own a flat in a converted house in Wimbledon. Does Right to Manage just apply to blocks of flats?
Right to Manage applies to all flats, both blocks and converted buildings.
Do all buildings qualify?
Most, but not all, buildings can take advantage of Right to Manage. Our FAQs on our website will help you find out if your building is suitable. Establishing qualification is free on the mi-blox platform.
