RMC Terms & Conditions

Removal of Managing Agent via Resident Management Company (RMC)

Walton & Allen will operate on a strictly ‘no win, no fee’ basis. A ‘win’ is deemed to be the successful removal of the incumbent managing agent from the development and is effective from the acquisition date when fees shall become due.

The service provided is to fund and manage the entire ‘removal’ process and includes but is not limited to:

  • Investigative work of company set up status
  • Attending meetings with tenants and/or residents association
  • Acquiring and reading of the lease
  • Downloading freehold title from land registry
  • Downloading each leasehold title from the land registry
  • Preparing ‘application for membership form’ and mail merge
  • Locating owners by means such as Land Registry, internet, lender, referral etc. and seeking return of ‘Application for Membership’
  • Resend invitations to correct addresses where land registry is out of date or incorrect
  • Preparing and issuing ‘Certificates of Membership’ to members as specified in the Companies Act 2006
  • Keeping accurate ‘Register of Members’ list for inspection at any time, as specified in the Companies Act 2006
  • Preparing ‘Claim Notice’
  • Preparing mail merge of claim notice to all owners and those with an interest in the freehold
  • Resending ‘Application for membership form’ a second time if claim is denied
  • Preparing an ‘Application to Appeal’ if appropriate
  • Dealing with the Leasehold Valuation Tribunal if appeal made, site inspection, negotiation etc.
  • Preparation of evidence for appeal documents
  • Prepare all information for inspection by freeholder’s legal team, as is its right, to demonstrate that prescribed matters have been strictly adhered to
  • Attend Tribunal hearings, preparation and presentation of evidence
  • Preparing and issuing ‘Information Notice’ to outgoing managing agent
  • Dealing with coordination of handover, gathering of contractors information
  • Negotiating new contracts with new or existing contractors
  • Collation of finances, set up client bank accounts, input of all information onto software
  • Study and understand previous budgets and actual expenditure
  • Liaise with freeholder to ensure RMC’s new responsibilities are adhered to
  • Collate historic arrears information, instruct freeholders panel debt collection solicitors and monitor
  • Update legislation relating to Companies & Landlord and Tenant Acts
  • Seeking and instructing lawyers for advice relating to any of the above
  • Obtaining Director & Officers Liability insurance for RMC directors
  • Negotiate various lease requirements/obligations with the freeholder
  • Attend further meeting with residents association to agree works/issues, priorities, finances and the way forward
  • Take over long running issues with developer/contractors e.g. NHBC ‘claims’
  • The above process is carried out by Walton & Allen in its entirety and no expenditure or effort is required on the tenants behalf, unless they wish to assist

Right to Manage Fees – Fixed

1-75 units – £200 per unit, plus VAT

76 – 199 units – £175 per unit, plus VAT

200 – 299 units – £150 per unit, plus VAT

300 units plus – £125 per unit, plus VAT

The fee applies to each residential unit in the entire development, irrespective of whether a unit owner is a member of the RMC or not

 

Disbursements

Reasonable expenditure incurred in carrying out the successful acquisition of the ‘removal’ will be recharged, at cost. Items may include, but not limited to, printing, postage, stationery, land registry fees and the like.

 

Block Management

Walton & Allen to be installed as managing agents from the ‘Acquisition Date’ specified or other correspondence as agreed with the freeholder. If it is the wish of the members to instruct an alternative managing agent then this will be honoured.

 

Collection of Fees

Fees are collectable where funds allow and Walton & Allen will remain as managing agents.