There certainly is. Collectively you have the right to take over the management of the building using the so-called ‘Right to Manage.’

The qualification criteria are similar to freehold purchase under the 1993 Act but this is a right arising under the Commonhold and Leasehold Reform Act 2002.

Provided that you have 50% or more of the flat owners on board you can serve the relevant notices and then take over all of the management functions held by the landlord under the terms of the leases.

Whilst the landlord retains legal ownership, day to day management and control rests with the flat owners via their ‘Right to Manage’ company.

The procedure involves serving a notice of invitation to participate and then following this up with a notice of claim. Needless to say, the notices must be served correctly to be valid. You will also need to incorporate a ‘Right to Manage’ company to exercise the management functions. All those who will participate need to be members of this company before the notice is served.

It may also be necessary to consider carefully the timescale for the transfer of obligations under ongoing management agreements and you will generally need to have a new property manager ready to take over the landlord’s functions when the right has been exercised.

Like all of these processes, success lies in proper preparation and planning and of course, appropriate professional advice.