Welcome to Oakfield Estate Agents Block and Estate Management Department
Our Estate and Block Management department is run from our Head Office where we have a team of experienced Property Managers dedicated to all aspects of the day to day management of our portfolio of Blocks.
Our portfolio is made up of blocks across Kent and Sussex ranging from as few as 2 units up to our current largest which has 70.
Whether you are a Freeholder looking to pass the day to day management of your investment to a managing agent or a Director of a right to manage company looking for a managing agent, Oakfield Estate Agents are the agent for you. We offer services to cover all aspects of Block and Estate Management and will tailor the services we offer to suit your individual requirements.
Block Management Services
The role of a managing agent is a complex one and one that requires a professional approach from an experienced and knowledgeable management company. To ensure compliant and successful Block and Estate Management you need to have an extensive knowledge of Landlord and Tenant law, building construction, Health and Safety as well as basic accounting just to name a few. The expertise needed when it comes to Block and Estate Management is why more and more RTM Directors and Freeholders are turning to managing agents to look after the property on their behalf.
The infrastructure Oakfield Estate Agents have in place is second to none meaning we can offer our Clients the highest level of service every time. We are very aware that no two Blocks are the same and as such tailor the services we offer to accommodate any individual needs or requirements. We understand that whilst some of our Clients prefer to have very little involvement and want us to handle everything other Clients like to be very hands on and kept informed about everything. This isn’t an issue, you can have as much or as little involvement as you like.
- Collection of service charges, reserve fund contributions and ground rent.
- Payment of approved invoices to contractors and utilities
- Proactive credit control
- Preparation and submission of annual accounts
- Full analysis of income and expenditure
- Fully managed service
- Preparation of service charge budgets
- 24 hour maintenance service
- Dedicated team for your property
- Scheduled property inspections
- Organise insurances
- Health and Safety compliance
Contact the Block Management Team
Get in touch with the Block Management team to find out how we can help you.
RIGHT TO MANAGE
What is Right to Manage?
The Right to Manage (RTM) was introduced through the Commonhold and Leasehold Reform Act 2002. It gives leaseholders the statutory right to take over the management of their property from the landlord by setting up a special company – a right to manage company.
RTM is an important right for leaseholders. They do not have to get the landlord’s permission, prove any mismanagement or obtain any court order to exercise the right. But it does come with some very real responsibilities and it’s not a decision that should be taken lightly.
RTM FEES FOR NON-RETIREMENT BLOCKS
Our standard fee for RTM is a base charge of £1000 plus vat, plus £50 plus vat multiplied by the number of flats in the applicant block.
If there are multiple blocks applying it is now a legal requirement to form one RTM Company for each block even if the intention is for the blocks to be under a single management company. The overall fee for multiple RTM’s in a single estate is a base fee of £1,000 or £200 per block (whichever is greater) plus £50 multiplied by the total number of flats.
If the Claim is disputed and it is necessary to make applications to the First-tier Tribunal or the Court, the cost of professional representation is subject to an additional charge, usually about £1,500 to £2000.00. This may increase by agreement in complex cases.
Qualification for RTM
The building must meet certain conditions and a minimum number of leaseholders is required to take part.
1. At least two-thirds of the flats must be let to ‘qualifying tenants’*
2. It can be part-commercial but the non-residential part must not exceed 25% of the total floor area.
3. RTM does not apply where the immediate landlord of any qualifying tenant is a local housing authority.
4. RTM does not apply where the premises fall within the Resident Landlord Exemption. To fulfil this exemption would require the following:
The premises must be other than a purpose-built block; AND
They must comprise not more than four flats; AND
One of the flats must be occupied by the freeholder or an adult member of their family as their only or principal home for the last twelve months.
5. The right to manage may only be exercised by a right to manage company and the members of the RTM company must comprise a sufficient number of qualifying tenants. The required minimum number of qualifying tenants must be equal to at least half the total number of flats in the building.
*A ‘qualifying tenant’ is a leaseholder whose lease was originally granted for an original term of more than 21 years. There is no requirement for any past or present residence in the flats, nor any limit on the number of flats which can be owned by one person.
The right relates to a building, so, in an estate of separate blocks, each block would need to qualify separately and an individual RTM notice served. In the case of an estate of flats under the same management, it would be sensible to take over the management of the whole estate, but this would have to be accomplished by application in respect of each separate block.
We work promptly and efficiently to secure your Right to Manage:
1. Members instruct Oakfield and pay our fee.
2. Oakfield will create your new Right to Manage company for the block, and register it with Companies House. Our accountants will ensure that your company is properly constituted in accordance with the RTM regulations and the Companies Act.
3. Oakfield will make land Registry searches.
4. We will ask two leaseholders to become directors of the new RTM company.
5. 50% of qualifying leaseholders are needed to sign up as members of the RTM company to claim the Right to Manage. Oakfield will help you canvass the support of fellow leaseholders.
6. We will serve Notices Inviting Participation, in the form prescribed by law, on all qualifying leaseholders who are not members of the RTM company.
7. We may serve a Right to Information Notice on the landlord requesting information needed to claim the RTM, and the landlord must respond within 28 days.
Oakfield go further than simply guiding you through the process, we will carry out the Right to Manage on your behalf.