We worked closely with the developer during the final stages and whilst leaseholders started taking occupation. We liaised with the new leaseholders and residents to answer any queries. It was at this stage that we were looking for Directors for the new Resident Management Company (RMC).

Once all the properties were sold a meeting was held with all the leaseholders. At the meeting the budget was reviewed and an explanation was provided about all about the services in the building and the costs associated with those services. The need for a suitable reserve fund was explained to leaseholders and they agreed an amount that should be allocated to the reserve fund every year

Completed the RTM process to ensure the customers had the legal power to change spending and accounting decisions

Service charge review over all types of expenditure - to find out exactly where money was being badly spent; Arranged new suppliers where we felt was overcharged and stopped spending on areas we thought were unnecessary;

Created a new accounting system, to deliver regular accounts and deliver these directly to the customers - ensuring they understood where the money was being spent

Regent Property assisted Laurie House with their Right To Manage process to enable them to take control of the building away from the freeholder and return the power to the property owners.

A formal RTM company was created and the residents now control the decisions for their own building.

Regent Property also covered all of the legal costs involved with this process and will be willing to do the same for other clients looking to initiate the RTM process