Unlike leasehold enfranchisement and lease extensions, you do not have to pay your landlord a premium. This makes right to manage much more cost effective.
You will need to pay your legal fees as well as your landlord’s reasonable costs, but these shouldn’t be too onerous because they can be split between participating flat owners.
After the process has been completed the leaseholders may (optionally) wish to appoint their own managing agent, which would entail an extra expense.
In terms of the time factor, the whole process should take several months.