We want to exercise the right to manage (RTM). Do we need to set up a company?

Right to Manage

Outline of the right for leaseholders of a building containing flats to take over the management of the building.

Yes. Right to Manage (RTM) has to be exercised through a special type of company called an RTM company. It is a company limited by guarantee (not shares). Its Articles of Association have to be in a specified format.

You are likely to require the services of a solicitor and a managing agent.

More information you might find useful:

The Right to Manage
RTM articles of association (external link, PDF)
More Frequently Asked Questions on Right to Manage

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