Seeking unified code Lord Best

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Seeking unified code Lord Best

    UNIFIED CODE OF PRACTICE?

    Lord Best is involved in discussions about the possibility of a unified Code of Practice. This idea was also raised as part of the discussions that took place under Lord Best’s Regulation of Property Agents (RoPA) considerations. RICS, Property Ombudsman, ARMA, IRPM are also involved. There is no concrete information as yet as to the current Government’s appetite for the Leasehold Reform agenda and the feeling is that if regulation does come, as is the thought, then it would seem sensible to have a Code that can be presented to any future regulator which has been considered and agreed by all different sections of the industry to which it is intended to relate. The discussions are at a very early stage and the next meeting is on 4th March at RICS offices. We will keep you posted.


    #2
    The problem with 'codes' like this is that they invariably end up benefitting the people who will be charging for the 'services' provided rather than the leaseholders who will be receiving those 'services'. It is the organisations who represent management agents, accountants, etc., who play the major part in deciding what will be in codes of this sort, rather than groups who genuinely represent the leaseholders who will be paying for the services - it should be the other way around.

    The ICAEW Tech 03/11 is a prime example. While this is supposed to be accounting guidelines that benefit leaseholders to prevent freeholders/managing agents from ripping them off, it actually provides no useful protection for leaseholders whatsoever, and in fact leads to them paying more (potentially 10% more than they would otherwise pay, or higher, in small blocks where services charges are generally low).
    The only people who really benefit from Tech 03/11 are the accountants who get to charge for the work.

    Comment


      #3
      Yes I agree

      Comment

      Latest Activity

      Collapse

      Working...
      X