Earlier in the year the Competition and Markets Authority (CMA) conducted a study into the service provided by residential property management companies in England and Wales and have identified some concerns on how the market works.
As a result of the study it is the CMA’s intention to seek remedial action to improve the performance of the market and to provide leaseholders with a better outcome. The main issues that were highlighted were unnecessary or excessive charging for services, poor service quality, poor communication and insufficient transparency. At the moment we understand that the CMA are seeking possible remedies to the problems identified in order to develop recommendations for the industry.
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The freeholder of a garage block leased the airspace above some garages to a developer with the intention of constructing flats on top of each garage. This was opposed by a flat owner who stated that their lease gave them ownership to the parts that the developer proposed to be developed. The Court found in favour of the flat owner and rejected the developers argument that the roof and airspace should be excluded from the tenants’ ownership.
Did you know that there is an estimate of 2.8 million leasehold flats in England, according to the government.
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