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Conveyancers to take note of study into residential property management

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The Office of Fair Trading (OFT) has recently announced its intention to conduct a market study into residential property management services for leasehold homes in England and Wales. In time the findings may have implications for leasehold conveyancing.

The OFT is particularly interested in
  • Whether leasehold owners feel that they have sufficient involvement in decisions taken about appointing managing agents, and if it is difficult to establish whether the property manager is providing value for money or a sufficient standard of service.
  • Whether property managers and freeholders have the same interests as leaseholders in, for example, keeping down costs of maintenance work or buildings insurance.
  • Whether there is effective competition, including evidence about how easy it is to switch between providers.
  • Whether residents receive good value for money and reasonable quality of service.
  • The time, effort and resources required to complain and seek redress.

Views can be submitted on the market study's proposed scope by writing to the OFT by 17 January 2014. Comments can be submitted by email to propertymanagers.study@oft.gsi.gov.uk or sent to:
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