Most buildings complete the journey in three to six months. Work through the stages in order and keep one shared folder for every key document from day one.
1. Initial review
Understand where you stand before making decisions.
- Read your lease, especially the management provisions and obligations.
- Find the current agent’s contract: notice periods and termination terms.
- Look at recent service charge accounts and any major works history.
- Talk informally to other leaseholders, and find two or three who would consider acting as directors.
2. Structure decision
- Confirm whether an RMC already exists (lease and title register).
- Only if none exists, consider forming an RTM company.
- Appoint the agreed resident directors properly through Companies House.
3. Legal and formal steps
- Serve the correct statutory notices, in the prescribed form and on time.
- Use a solicitor with specialist leasehold experience for the formal notices.
- Check consultation obligations, such as Section 20 of the Landlord and Tenant Act 1985, where major works or long agreements are involved.
4. Transition planning
- Request handover information from the outgoing agent.
- Review every contract and supplier: renewal dates, notice periods, keep or replace.
- Plan service continuity, so residents notice no gap.
5. Financial setup
- Open a dedicated bank account in the company’s name, with sensible signatories.
- Consider a separate reserve fund account for planned and major works.
- Set a first-year budget from actual building costs and a clear demand schedule.
- Make sure year-end accounts will be prepared and certified as required.
6. Go live
- Confirm the date you take over in writing with all parties.
- Write to residents: who the directors are and how the building will be run.
- Launch your platform so documents, dates, money and messages are in one place from day one.
Tip. Keep notes of every conversation and one copy of every key document in a single shared folder from the start. It is the easiest thing to do early and the hardest to fix later.
This guide is general information, not advice on your circumstances. Leasehold law is detailed and changes: check the current position and take advice before acting. Published October 2026.