Millstream News

Millstream Management Services appointed for 21st Right To Manage contract

4th April 2016

Millstream Management Services (MMS) has been appointed to undertake its latest Right To Manage contract by the RTM Directors at Pegasus Court, a collection of luxury retirement apartments in Bournemouth.

As its 21st Right To Manage contract, the company is now responsible for 917 retirement units across the UK as a result of the RTM process. Overall MMS manages 4,698 retirement units in 122 developments across the UK.

Simon Crewe, Managing Director of MMS sees the growing RTM trend continuing.  He comments: “Our recent appointment by the Directors at Pegasus Court is just the latest in a long line of unhappy retirement property owners who sought a peaceful, supported and fulfilled retirement, yet have ended up experiencing something quite different at the hands of poor management.

“As awareness grows, the number of RTM takeovers in the retirement housing sector is increasing year on year.  We work in partnership with both the Right To Manage Federation and directly with retired property owners to support them in the RTM process but essentially it’s something that as a sector, we should be working to avoid altogether.

“We believe many of the issues leading to a Right To Manage scenario are down to poor selection of managing agents for what is an incredibly bespoke requirement. The management of a retirement property requires a far more person-centred approach.

“Landlords need to be scrupulous in their selection of management providers in this sector, to both ensure the best possible service for our retirees and to avoid a great deal of stress and anxiety. An RTM process is a lot for anyone to take on, let alone at the average age of 80.”

The “Commonhold and Leasehold Reform Act 2002” provides a right for leaseholders to force the transfer of the landlord's management functions to a special company set up by them - the “Right to Manage” company.
The right was introduced, not just as a means of wresting control from bad landlords, but also to empower leaseholders, who generally hold the majority of value in the property, to take responsibility for the management of their development.

In contrast to before the 2002 Act, the resulting process is relatively simple. The landlord's consent is not required, nor is any Order of Court. There is no need for the leaseholders to prove mismanagement by the landlord. The right is available, whether the landlord's management has been good, bad or indifferent.

Paul Swainson, Chairman of Pegasus Court RTM Limited said: “We are delighted to have made the ‘Right To Manage’ move and are now able to control our own future, supported by Millstream who are there to ensure everything runs smoothly by facilitating our Owners needs.

“Millstream has provided an excellent House Manager with a background in social care, who can't do enough for us, while maintaining a relaxed, safe and happy atmosphere here in our home. The Right to Manage Federation has also assisted us through every stage of the process to ensure everything progressed smoothly until the change of management was complete.

“As Right to Manage Directors and Members, we now have complete control over costs and expenditure to ensure our Service and Maintenance charges are accurate and honest and hopefully reduced where possible in the long term.”

For more information on Millstream Management Services please call 01425 462400.