RTM companies inherit all compliance obligations from the previous managing agent. Directors must understand these obligations from day one.
Immediate priorities: obtain all current compliance certificates, review the fire risk assessment, check mandatory insurance, and verify contractor compliance documentation.
Common pitfalls: assuming previous records are complete, underestimating compliance costs, failing to appoint competent persons, and misunderstanding Section 20 requirements.
RTM directors should seek professional advice on compliance obligations. Personal liability can attach to directors for serious failures.
Custodia’s Free tier is designed specifically for small RTM companies, providing a structured compliance framework with guided workflows for volunteer directors.