Rising costs.
Unjustified.
We are excited to formally announce the creation of the new Right to Manage (RTM) company for the River Gardens to address this.
Dear Resident,
We are reaching out to every River Gardens leaseholder on the topic of Right to Manage, also known as RTM. As you may already know, the idea behind RTM is to bring back control and effectiveness of property management to the hands of leaseholders. It is designed to benefit every resident and answer their ongoing needs, which is why we have chosen to address this issue by reaching out to you. Should you be a tenant who is renting the property - it would be greatly appreciated, if you could pass this weblink to your landlord. Right to Manage is good news for leaseholders and tenants alike.
Why RTM?
Right to Manage places the decision on who manages the development - and how it is managed - in the hands of the leaseholders. Currently, leaseholders have no say or influence over the managing agent's - Rendall & Rittner’s in our case - approach to managing the development, what services they provide or the cost of those services. Implementing RTM can drastically reduce and stabilize service charges, as seen with our Enderby Wharf neighbours.
Many residents have expressed dissatisfaction with the current managing agent, Rendall & Rittner. Based on discussion with our initial RTM working group as well as helping residents, a list of issues have been identified that are listed below.
Featured River Gardens issues
Questionable reputation.
Recently, Rendall & Rittner has been featured on BBC’s Rip Off Britain TV episode – this is clearly not a good sign of opportunistic and opaque service charge hikes.
We believe, that Right to Manage is a logical solution for a leaseholder who is concerned about the value of their property and future prospects of this development. Even if you do not share any negative perception with the current managing agent.
Reasons to believe
Other RTMs across the UK with the same Articles of Association
Leaseholder satisfaction rate within RTM setup
Leaseholder satisfaction rate within non-RTM setup
Service Charge reduction at Enderby Wharf for 7 consecutive years
RTM Governance
Section 28 to 38 lay out how the RTM company makes decisions, votes, and holds the board of directors to account. There is a clear governance process. The Articles of Association for River Gardens RTM are available on the companies house website.
Moving Forward
We are liaising with legal counsel to guide us through the end of end RTM process and we are also keeping in regular contact on key advisory steps with the Leasehold Advisory Service (LAS), which is a government free advice agency.
Roadmap to success
1. RTM Setup
Set up River Gardens RTM Company Limited
2. Leaseholder Notice
Serve RTM notice to all leaseholders
51% signatures required
3. Freeholder notice
Serve RTM notice to freeholder
4. RTM acquirement
RTM company expects to acquire RTM control in four months. Complete estate transfer process may take up to one year.
5. Official replacement
Acquire RTM and replace Rendall & Rittner with the managing agent of choice.
Your vote matters.
Use it.
51%
We will need 51% leaseholders to sign up for the RTM per each River Gardens Building in order to be successful. That's why every vote counts.
Use the form bellow and sign up today.
Ready to make an impact?
Complete few simple steps to support RTM initiative
