Submitted on Thursday 4th August 2011
Published on Monday 8th August 2011
Current status: Closed
Closed: Wednesday 8th February 2012
Property Management Companies: Tougher Regulation Required
There is a clear requirement for stricter regulation of Property Management Companies (PMCs) responsible for the collection of service charges from owners of leasehold properties in the UK.
There needs to be tougher consequences for PMCs who breach the regulations of the Landlord & Tenant Act.
As it stands, leaseholders have to go to the Lease Valuation Tribunal (LVT) at their own expense to take action again PMCs which are failing in their duties – a long, stressful and expensive process. There is a plethora of reports of PMCs mishandling residential developments with little or no consequence, leaving leaseholders out of pocket financially and with homes/communities in a poor state of repair.
PMCs need to be held to account as soon as failings are identified. The current system is too slow and not universally accessible.
The whole industry needs to be thoroughly investigated and a new system put in place which offers leaseholders the necessary protection from incompetent PMCs.
You can't sign this petition because it is now closed. But you can still comment on it here at Repetition.me!
18.104.22.168 Thu, 29 Jul 2021 12:49:15 +0100