On 27 July 2017, the Financial Conduct Authority (the “FCA”), announced that by the end of 2021, the FCA will not use its legal powers to compel or persuade banks to submit to LIBOR as they are not comfortable in doing so where there are only a few eligible term borrowing transactions by large banks.
Our experienced team of charity solicitors can advise on all aspects of forming and running Tenant Management Organisations (TMOs).
A TMO can be formed by a group of council tenants to take on responsibility for managing the homes they live in; from organising repairs and allocations to ensuring grounds maintenance is undertaken.
The individuals that form the TMO come together to create an independent legal body, which is run by a tenant-led board. TMOs often manage their housing more effectively than their landlord and help to improve community spirit, quality of life, tenant satisfaction and neighbourhood regeneration.
TMOs enter into a legal management agreement with their landlord and are paid an annual management and maintenance allowance in order to carry out the management duties allocated to them in relation to their housing.
At Anthony Collins Solicitors we have been supporting TMOs and the National Housing Federation for many years. We use our extensive sector and legal knowledge to help TMOs navigate the legalities of forming and managing their organisation. We have experience of working with TMOs of varying sizes, from those managing a handful of homes to larger TMOs covering whole estates.
Our services to tenant management organisations
At Anthony Collins Solicitors our experienced team is passionate about working with community-based organisations to help drive regeneration of deprived areas, build local capacity and improve community spirit.
Our specialist team of solicitors work with tenants to advise and support them on all aspects of forming and running Tenant Management Organisations, including:
- Advising on structure when forming TMOs, including co-operatives and not-for-profit companies.
- Supporting tenants to ensure TMOs are set up correctly and in compliance with legislation, including training for their boards on their duties and responsibilities and the practicalities of housing management.
- Advising on practical employment issues and governance issues.
- Supporting and guiding TMOs on their relationship with the council and ensuring key documentation is in place.
- Ensuring that tenants are aware of their responsibilities in relation to services, such as day-to-day repairs, allocations and lettings, tenancy management, cleaning and caretaking and rent collection.
- Assisting tenants when employing staff such as housing managers, caretakers and repair workers.
Roman Way Estate CIC have consistently retained the services of Anthony Collins Solicitors for advice, guidance and direction on all our legal requirements. We have always found Anthony Collins Solicitors to be friendly, courteous and, above all, knowledgeable in all aspects of legal advice, they an insight and understanding of the specific work undertaken by TMOs, which we find to be advantage to our needs and the sector we work within. We would not hesitate to recommend Anthony Collins Solicitors to any of our colleagues for consideration to undertake their legal work.Roman Way CIC.
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