Latest on CMA recommendations

The Competition and Markets Authority continues its work with the residential property management sector and government to implement its recommendations as laid out in its December 2014 market study. The creation of short information sheets produced by LEASE with input from the Law Society, and revised conveyancing documents, produced by a sector working party including representatives of the Law Society and the Royal Institution of Chartered Surveyors (RICS), have both advanced progress in improving pre-purchase information for prospective leaseholders. Codes of Conduct to promote better practice in the residential leasehold sector have undergone further review and are awaiting approval by the Department for Communities and Local Government. A more comprehensive update is anticipated in spring 2016.