To bring an organised approach to the planning and collection of the service charges and reserve funds
To prepare the timetables for redecoration and repairs and inspection and supervision of works
Assessment will be independent of private interests and preferences and based solely upon their duty to keep the premises in good repair
The process of collecting funds will be in accordance with the requirements laid out in the lease and compliant with current legislation
Time-consuming administration will be handled more efficiently through better facilities for storage and retrieval of records and documentation essential for accounting purposes. All information is held in accordance with strict General Date Protection Regulations (GDPR)
Issues and disputes can be dealt with impartially at arm’s length in order to limit the animosity and division which could arise between neighbours
To distinguish between the needs and duties of the company under the Companies Acts and the needs and duties of the company in its separate role as landlord under the leases and the relevant landlord and tenant legislation
Insurance cover to protect client funds is a significant advantage over self-regulation of funds by individual members
Professional indemnity cover as a further protection against negligent acts or incompetence
The passing of some of the responsibility for compliance with leases, laws and codes of practice, although the directors of an RTM are still responsible for setting policy and monitoring the work of the agent
RICS Certificate - Client Money Protection Certificate
