Leasehold Property Management Standards For Blocks Of Flats Are Taken To The House of Lords

Conservative Peer Baroness Gardner of Parkes has taken up the FPRA campaign calling on the Coalition Government to introduce a minimum standard for private sector property management for blocks of flats according to the eGov Monitor web site
http://www.egovmonitor.com/node/45421.

On 16 January 2012, The Federation of Private Residents Association (FPRA) have welcomed news that Conservative Peer Baroness Gardner of Parkes has taken up the FPRA campaign calling on the Coalition Government to introduce a minimum standard for private sector property management for blocks of flats.

This is good news I am sure for property management agents who currently adhere to good practice standards as any move to outlaw cowboy operators wil be welcomed by all reponsible management agents, leaseholders and block management companies in England and the UK.

Recognising shortcomings with the current arrangements FPRA Chairman Bob Smytherman said,

"The RICS Code of Practice is not only voluntary for property management companies it is virtually unheard of by most flat owners, equally there are around 50% of property managers who don't even belong to any trade association despite collecting and holding large amounts of service charge funds often amounting to millions of pounds and not covered by any code of practice or regulation."

"We believe the only way to get the 'rogues' out of the sector is to have a compulsory independent licensing scheme with a high minimum standard, along with severe penalties for breaches of those required standards. There are over 2 Million flat owners who need proper protection from the loopholes in the present arrangements and we welcome Baroness Gardener's intervention."

It is important to note that for those firms which are Regulated by RICS, the RICS Service Charge Code is not voluntary. It is a mandatory requirement that RICS members holding themselves out to be Regulated by RICS operate in strict compliance with the Residential Service Charge Code.

Block Management Agents accross the London Property Management and South East sector are very often not RICS Regulated. The most common qualifying regulatory body being ARMA. ARMA registered firms who are not RICS members therefore avoid the stringent regulatory eye of the RICS and services cannot be guarnateed to meet the same standards. The RICS actively enforces the Service Charge Code by visiting the offices of its members on a regular basis and diligently checking through the files and books to ensure that their requirements are met.

When it comes to maintaining and ensuring the smooth running of freeholds and property service charges for blocks of flats or apartments, few things are more essential than securing the services of a professional property block management agents.
VFM Freehold block management, is delighted to be considered as one of London and South East England's top suppliers of management agents services for landlords and freehold companies. Using the advantages of its wealth of experience, VFM is able to deal with the various issues and problems that might arise helping to facilitate more efficient lease management and compliance procedures. VFM Block Management's property services have proven immensely popular with time pressed landlords, leaseholders and directors of freehold property management companies. If you wish to speak to VFM about just how its block management agent services can be of benefit to you, simply give them a call on 020 8658 6824 or visit their web site by clicking VFM Property Management Agents

---

Orignal From: Leasehold Property Management Standards For Blocks Of Flats Are Taken To The House of Lords