RTM managing the building themselves

FlatLifeFix

You've already done more groundwork than most RTMs at this stage - having your own insurance broker, accountant, fire safety contract and contractor relationships in place before you take over is genuinely the right approach. A lot of blocks make the mistake of trying to sort all of that while also managing the transition, and it becomes chaotic.

A few things that aren't on your list but are worth making sure you have covered:

Reserve fund - you mention a budget and service charge but not a sinking fund. If you don't already have one, build a reserve fund contribution into the service charge from day one. At 23 flats you'll face significant periodic costs - roof, external decoration, lifts if applicable, communal systems - and without a reserve you'll be asking leaseholders for large one-off payments when those come up. Even a modest amount per flat per month adds up significantly over a few years.

Companies House compliance - as an RTM company you have filing obligations. Annual confirmation statement, and accounts if you're not filing dormant. Worth making sure your accountant is across RTM company specifics rather than just general small company compliance, as there are leasehold-specific considerations.

Handover from the MA - be very specific about what you require before the handover is complete. You should receive: all service charge account balances and bank statements, reserve fund balance and account details, all leaseholder contact information, copies of all contracts (lifts, cleaning, maintenance), all historical invoices and receipts available for inspection, insurance certificates, inspection reports, and the original lease documents if held by the agent. Don't consider the handover complete until all of this is in your hands. Some agents drag their feet on this - put the request in writing with a clear deadline.

Here is a guide on setting a service charge budget that covers the reserve fund question in detail, which might be useful as you're planning year one: proppa.uk/noticeboard/how-to-set-service-charge-budget-uk

I'm building Proppa - a platform specifically for self-managing blocks to handle budgets, maintenance tracking, compliance and resident communications in one place. Pre-launch at the moment but worth joining. The first 50 buildings to join get a discount if you want to grab a spot on the waitlist: proppa.uk

Good luck with it - sounds like you're going into this well prepared.

eddddy

Flatxxxxx said

I'm building xxxxxxxx - a platform specifically for self-managing blocks to handle budgets

You're not allowed to advertise on these forums.

Also, you're replying to a question that was asked over a year ago.