Cover Letter
To: All Leaseholders of Verdigris Apartments, 31 Old Bethnal Green Road.
Registration of Interest for the "Right to Manage"
Dear Leaseholder,
We are writing to you as fellow residents to start a conversation about the future management of our building.
Presently, management of Verdigris Apartments is controlled by Hyde Group, having recently acquired/merged with THCH. Many of us have raised concerns with the financial transparency and accuracy of our service charge usage under THCH and have been increasingly dissatisfied with the quality of Hyde Group's management and maintenance of the building.
Under the Commonhold and Leasehold Reform Act 2002, we have a statutory right to take over this management ourselves, known as the Right to Manage (RTM).
By exercising our Right to Manage, the leaseholders can:
- Reduce Costs: We can shop around for the most competitive insurance and maintenance contracts, often saving significantly on service charges.
- Improve Quality: We choose which managing agent or contractors to hire, ensuring they are accountable to us, not the freeholder.
- Gain Transparency: We will have full sight of all invoices, bank accounts, and budgets.
- Protect Our Investment: By prioritizing the right repairs at the right time, we can improve the buildings condition, and ultimately, our investment.
To exercise this right, we must form an "RTM Company." However, before we incur the costs of setting up this company and hiring legal advice, we need to know that at least 50% of the flats in the building are in favor of the move.
What we need from you: Please let us know if you would like to be kept informed about the RTM process by returning fill out the registration of interest using the site available at: verdigris.org.uk. Please also read the questions and answers for more information.
Best regards,
Verdigris RTM Steering Group
Published: 15/02/2026