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Written question asked by Baroness Hayter of Kentish Town (Labour) on Tuesday, 2 December 2014, in the House of Lords. It was due for an answer on Tuesday, 16 December 2014. It was answered by Lord Ahmad of Wimbledon (Conservative) on Tuesday, 9 December 2014 on behalf of the Department for Communities and Local Government.

Leasehold: Property Management Companies

Question

To ask Her Majesty’s Government what action they propose to take following the Competition and Markets Authority market study into the residential property management service sector in England and Wales.

Answer

With more than 4 million properties across England subject to a long lease, leaseholders are a vital part of a growing housing market.

This Government has already increased protections for leaseholders, with limits being placed on the amount of service charges recoverable from local authority leaseholders where the works are funded by Government grant, as well as a requirement for every property manager to belong to an approved redress scheme. We will now work closely with the Competition and Markets Authority to consider what further support the Government can offer.

Housing is a devolved issue for Wales. I understand that the Competition and Markets Authority will be pursuing the issues arising out of its market study separately with the Welsh Government.

Secondary information

Type
Written question
Reference
HL3334
Session
2014-15
Subjects
Leasehold Competition and Markets Authority Property management companies
Link
View this Written question on www.parliament.uk