Property Management Companies: Competition
The question
To ask the Secretary of State for Housing, Communities and Local Government, if she will have discussions with the Competition and Markets Authority on the potential impact of large estate management companies on (a) role of SMEs, (b) the ability of SMEs to expand in the estate management sector and (c) consumer choice for residents.
Answered by Matthew Pennycook
Managing agents are contracted by landlords to deliver services on their behalf. Details of services provided are usually set out in a management agreement between the agent and landlord.
The government’s response to the Competition and Markets Authority’s market study into housebuilding, which included consideration of management on private estates and homeowner choice over their estate management company, was published on 22 October. It can be found on gov.uk here.
As set out in my Written Ministerial Statement to parliament of 21 November 2024 (HCWS244), the government is clear that it is committed to bring the injustice of ‘fleecehold’ private estates and unfair costs to an end and we will consult next year on the best way to achieve this.
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