PROPERTY MANAGEMENT COMPANIES

That this House recognises that many new housing developments have property management companies appointed to provide a range of services; further recognises that contracts are put in place between home occupiers and property management companies that set out the range of services to be provided; notes that often there is a lack of transparency in property management contracts about the standard of service to be provided; further notes that the cost of providing services, the annual accounts relating to the service charge and any increase in the annual service charge are sometimes also lacking in transparency; and calls on the Government to bring forward legislative proposals that will require property developers to provide greater clarity in the contracting, costing, incremental rises in service charges and the process of tendering for property management contracts.