Regulate service charges on properties
Unlike, for example with financial advisors, property managers are unregulated. The company set the charge and “deliver” the service. Without regulation, it is near impossible for leaseholders to resolve cases where the charge is excessive for the service level. Regulation is desperately needed.
If service charge is excessive, current options are:
Pay up. Money makes the world go round!
Fire the firm IF you can get a enough leaseholders, and money. Hope the next ones better!
Formal complaint, court or a tribunal. All require significant time, courts/tribunals require money. Neither likely to succeed since proving wrong without any regulations to define “wrong” is near impossible against their lawyer armies. Also, all formal proceedings are public, potentially devaluing your property.
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