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RTM isn't a fix-all. If you're worried about a sinking fund, you can just ask your managing agent to make a provision for one. If they agree to raise it with the other leaseholders and are generally responsive, I'd say they're one of the good ones and you're probably right not to look at RTM.
I live in a 24 flat block in Leyton and I pay £150 pcm with around £60k in the sinking fund. Prior to RTM I was paying £240 pcm.
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We each pay a fixed percentage of actual incurred itemised expenses in a similar building, and were even before we took over management. A lot less than that though in a normal period, although sometimes there are big expenses.
Managing is a constant headache for little reward, especially if any of the leaseholders are difficult. I’d only push that button for a very a good reason.
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£1400 a year isn’t vastly excessive for a small block but the absence of a sinking fund is a cause for concern. It means the leaseholders could be forced to pay out of their pockets for major works, if they become necessary. It’s also one of those things solicitors rub their chins over when advising buyers.
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ReekBlefs
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Sharkstar
@moog
I realise it's hard to compare like for like but what are people paying for Service Charges? I live in a 3 storey victorian conversion with x4 flats and it's approximately £1400 a year.
I've requested a break down from the managing agent but as far as I'm aware this doesn't include a sinking fund.
I think the other leaseholders and I would be eligible to apply for the RTM but it doesn't seem worth the trouble unless there's a significant saving to be made.