Changes afoot in Residential Property Management Sector

Changes afoot in Residential Property Management Sector

Latest Insight

Posted 06/02/2019

This year, away from the more obvious current concerns of Government, there will be a number of big changes affecting the residential property sector that will require regulation and in some cases new legislation. Some are likely to have significant impact on both consumers and businesses. They will certainly require big alterations to processes and in some cases behaviour.

The list of some of the more recent and ongoing consultations in the residential sector looks like this:

  1. Enfranchisement – deadline just passed
  2. Regulation of Managing Agents – last year
  3. Tackling Unfair Practises in Leasehold Market – last year
  4. Ban on Letting Agents Fees – last year
  5. Considering the Case for a Housing Court – call for evidence – 22 January 2019 deadline
  6. Good practice on how residents and landlords work together to keep their homes and building safe – call for evidence – 12 February 2019 deadline
  7. Technical Review of Approved Document B of the Building Regulations – Call for Evidence – 1 March 2019 deadline.
  8. Reinvigorating Commonhold – 10 March 2019 deadline

And there are many more...

In the last 18 months including reviews or consultations on: The Buying and Selling Process; Overcoming Barriers to Longer Tenancies; The regulation of Managing Agents; Client Money Protection, Rentcharges, Shared Ownership in the Private Sector and Park Homes.

Of course all of this is worthwhile and in some cases long overdue change but it is not without cost to leaseholders and tenants and, in most cases, businesses. The final outcome for much of the consultation is, as yet, unclear but managing agents will need to work hard to ensure that they continue to find real value and efficiencies that offset the increased cost burden on their customers.

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