We have an exciting year ahead which could lead to radical change for the communal ownership management. The Government has announced its response to the consultations on managing and letting agents.
There is clear intent to deliver regulation and going wider to look at criminal sanctions for practicing without suitable qualification. The devil will be in the detail, but this is something that should be welcomed by all sides. Having entered the residential management arena over a decade ago to make a difference and to see the professionalisation of residential management this is to be applauded. Of course, the last time we got to here there was an election, a change of government and nothing happened. I sincerely hope that the Government will push ahead swiftly to give the framework needed to make regulation a reality.
What that will do to the management industry will be interesting. Presumably, there will be consolidation and smaller firms unable to meet requirements will be subsumed into the larger firms. As long as the result is better service and greater transparency for the service charge payers then all is in the right direction.
There are still a lot of consultations and information gathering underway and so we can expect more changes to come along. Interesting and exciting times indeed.
