Require Property Management Companies to Publish Management Annual Accounts

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Petition Action

Require Property Management Companies to Publish Management Annual Accounts

Petition Details

The Government should require all property management companies responsible for issuing service charges in residential apartment complexes to publish annual management accounts within 12 months of each financial year end and publish them on a publicly accessible portal, similar to Companies House.

Additional Information

Leaseholders can face long delays or no access to management accounts, leaving them unable to see how service charges are used. We believe that requiring property management companies to publish annual accounts within 12 months on a central portal (similar to Companies House) could improve transparency, prevent misuse of funds, and ensure consistent, accountable financial practices. Failure to do so should results in fines, reimbursement of management fees, prison, or loss of relevant real estate licences.

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