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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Did you know that there is an estimate of 2.8 million leasehold flats in England, according to the government.
Looking for a management company to look after them, contact us 01384 573 637 or email us firstname.lastname@example.org
It is that time of year again when we put the wheels in motion for the 2015 Service Charge Budgets. Our Property Managers are busy bees identifying items on site that will need attention over the next 12-18 months as well as getting in the final quotes, ready for our Budget Meetings.