Introduction

As you may be aware, we, the leaseholders of 25 Porchester Place & Coniston Court, have endured years of:

  • Mismanagement

  • Inflated and unjustified service charges with little to no transparency

  • Excessive delays—major works have been postponed for up to eight years

These ongoing issues have led to a significant decline in the market value of our flats.

Looking Ahead: Two Options

  1. Do nothing and continue to endure the current mismanagement and financial burdens.

  2. Take action by securing the Right to Manage (RTM) and taking control of our building’s management.

The Church Commissioners have agreed to support our RTM claim—provided we secure at least 50% participation from leaseholders.

Your support is crucial. We invite you to join the RTM Company and help us take back control.

Background

For years, the Association has tirelessly sought to persuade the Church Commissioners (CC) and their managing agents to take appropriate action. However, our efforts have not been successful. As an Association, we have had no authority to make decisions regarding the management of our buildings.

The good news is that the Government is strongly supporting leaseholders. New legislation, effective from 3rd March 2025, now enables us to pursue the Right to Manage (RTM).

By securing RTM, we can appoint a managing agent of our choice, unlocking several key benefits:

  • Enhanced security for all residents

  • Faster execution of major projects

  • Better oversight of porters and cleaning staff, ensuring timely, high-quality maintenance and cost savings

  • Financial control—members will oversee spending, ensuring transparency, efficiency, and better value for money

  • Improved decision-making on key matters such as sub-letting, alterations, and pet licences

This is our opportunity to take control and ensure our buildings are managed to the highest standards.

Value Proposition

Preliminary estimates from extensive discussions with external consultants and experts suggest that we can achieve substantial cost savings of approximately 25%—simply by hiring staff directly and eliminating the 20% VAT markup.

For leaseholders, this translates to significant reductions in service charges:

  • Two-bedroom flats: Annual service charges could decrease by £3,000, from £11,500 to £8,500

  • One-bedroom flats: Annual service charges could drop by £2,200, from £9,100 to £6,900

Our goal is to align our service charges with those of comparable buildings in the area, ensuring fairer costs and better value for money.

The estimated cost of setting up the Right to Manage (RTM) is minimal—only £100 per flat + VAT—and we anticipate completing the process within 6 to 8 months.

This is a rare opportunity to take control, cut unnecessary costs, and enhance the management of our buildings. Your participation is key!

Risks and Mitigations

While pursuing Right to Manage (RTM) presents certain risks, we have conducted extensive due diligence and are confident that these challenges can be effectively managed with the right approach and your support.

While there are certain risks and challenges, in our opinion, they are manageable and outweighed by the long-term benefits of self-management—lower costs, improved services, and greater transparency. With your participation, we can successfully navigate these challenges and build a better future for all leaseholders.

Forward Plan

We have already established an RTM (Right to Manage) company, structured as a company limited by guarantee, in accordance with legal requirements.

  • Director Roles: None of the directors will receive any remuneration. We welcome additional directors—any member interested in being nominated should complete and submit the attached nomination form.

  • Membership: We strongly encourage you to join as a member. Membership is limited to one per flat, and your liability is capped at just £1.

  • Transition from the Association: Once the RTM company is fully operational, the existing Association will be dissolved, and its funds will be transferred to the RTM company for the benefit of all leaseholders.

We are happy to answer any questions or provide further clarification as needed. Your support is crucial in making this a success!