If you're unhappy with how your block is currently being managed, whether you suspect that the problem lies with your landlord or managing agent, you can take control of your block through a process called Right to Manage.
Often the biggest cost savings Right to Manage Companies make is from arranging their own buildings insurance as there are no more hidden commissions or third party payments.
But don't just take our word for it - this is correspondence we received from Charles Johnson at Stag RTM Company Ltd.
"There are some really genuine property services businesses out there, which are efficient and pleasant and are independent of other commercial pressures except doing straightforward business.
The one which stands out most is Flats Direct who arrange block insurance.
At a time when our search for replacement building insurance was coming up with figures not much cheaper than we had been paying previously, Flats Direct were an absolute gem. In no time they had organised 3 comparable quotes using claims history and with reference to the lease and the previous policy/excess etc. In just a few more short steps we had agreed new cover at under half the cost.
Flats Direct's business model is based on a no fuss approach to provide competitive buildings insurance to blocks that are fed up at being ripped off.
I would have no hesitation in recommending Flats Direct."
Since the 2002 Commonhold and Leasehold Reform Act, leaseholders have had the legal right to take control of their block away from their landlord, and as a consequence, replace their managing agent, through the Right to Manage. It is a relatively inexpensive, swift and straightforward means of doing so.
On meeting certain government-specified criteria, the Right to Manage is exercisable by all leaseholders. What's more, leaseholders are not required to prove that their existing managing agent has been incompetent or otherwise, and it takes just one person to initiate the process.
You can work out and go through the process yourself, but we suggest you might want to talk to a professional first. If you want a more in depth idea of what’s involved, LEASE provide a very useful and informative guide.
We're already saving money for RTM companies with our direct insurance services. Make sure you don't miss out!
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"Thank you for the help with our claim. The detailed clarification of the different aspects was most useful, enabling matters to be brought to a satisfactory conclusion."
Mrs A Boyle, Kensington Management