60% of Flat Owners Want Block Management Regulated

60% of flat owners want the management of residential blocks of flats independently regulated according to a recent leaseholder survey.

The finding indicates that the flat owners want more protection than is currently offered in the marketplace. Existing protections for leaseholders are limited and varied.  Although trade association, ARMA is introducing its own regulatory regime called ARMA-Q, it will not be compulsory for all managing agents to join.  ARMA and other industry bodies such as the RICS and the British Property Federation have been vocal in calling upon Government to introduce a statutory regulatory regime, although there has been no firm commitment to this yet from the corridors of power.