What is a TMO:
A Tenant Management Organisation (TMO) is a company run by a Board of residents. The Right To Manage (RTM) was introduced in 1994 under the Leasehold Reform and Urban Development Act and allows tenants and leaseholders in England and Wales to set up a TMO. The TMO can take on a package of Housing Management responsibilities for a particular estate or area after entering into a Management Agreement with the Local Authority.
Benefits of a TMO:
TMOs often manage their housing more effectively than their landlor. Their performance matches the top 25% of local councils in England. This better performance by TMOs cover repairs, relets, rent collection and tenant satisfaction. TMOs being 'on the spot and with local knowledge tend to act sooner and more effectively when dealing with tenancy management problems. TMOs work well in socially excluded communities and many TMOs are involved in wider community activities an p;lay an important part in neighbourhood regeneration. The majority of TMO tenants say the TMO helps to increase community spirit and improve quality of life.
Who is the tenancy with?
As TMOs do not own the stock the tenancy remains with the Landlord. Tenants retain the same rights as they do with the landlord.