Right to Manage
The second major right granted to leaseholders under the Commonhold and Leasehold Reform Act 2002 was that of the Right to Manage, introduced in s71 (Part 2 Chapter 1) of the Act in September 2003 and hailed as a great right as it was the most radical attempt at addressing the problems caused by negligent and incompetent managing agents. It’s a ‘no-fault’ process allowing leaseholders to either replace their own managing agent with one of their own choosing with no premium payable and without needing to go to court to prove ‘fault’ on the part of the freeholder. Smaller developments can choose to self-manage.
There is criteria that has to be met for both the building and the leaseholders, and a company that has to be established, which can be read here.