How can leaseholders take over management of property?

The law allows leaseholders of flats, in traditional blocks and converted buildings, to exercise a right to take over the management of the property from the freeholder in certain situations. This is useful where the freeholder is not able to carry out the role, has not been doing a good job of the management, or simply where the leaseholders want more control over the management of the property. There is a relatively straightforward process for taking over the management of the properties, although there are a number of conditions that need to be considered and will apply before this right can be exercised.    

What are the risks involved and the benefits of taking over the management?

Where leaseholders meet the criteria for taking over the management of a block of flats, there are a number of practical considerations that need to be considered beforehand.  With the benefits come a number of responsibilities and potentially a risk of liabilities if things go wrong.  It is always worth discussing with an expert, and considering the positives that come with the management of a block of flats as well as bearing in mind the potential pitfalls.  

How we can help

If you are in a position where you need to, or want to understand a bit more about what is involved, in taking over the management of a property, we can give you general guidance in what to do and things to consider. We will:   

• Listen and take on board your position
• Explain what your legal rights are
• Talk you through the process and your options for getting further legal advice and assistance