Property Agents: Regulation

Baroness Taylor of Stevenage Excerpts

Thursday 18th April 2024 Lords Chamber

[Baroness Swinburne (Con)]

I can confirm that in the Leasehold and Freehold Reform Bill we are introducing measures to empower leaseholders to take action in the event of unreasonable behaviour. The Bill will make it easier for leaseholders to scrutinise costs and challenge the services provided by both landlords and property managing agents and ultimately for them to take on the management of their building themselves or directly appoint or replace agents. Alongside existing protections and work undertaken by the industry, these measures will seek to make property managing agents more accountable to leaseholders who pay for their services. It is coming.

[Baroness Taylor of Stevenage (Lab)]

My Lords, we have before the House a suggestion that we introduce a property regulator. It has waited five years. There is agreement across the House. Surely we should take the opportunity to amend the Leasehold and Freehold Reform Bill or the Renters (Reform) Bill to introduce this. Five years is long enough to wait, especially when we have complete agreement across the House that this is what we need to do.

[Baroness Swinburne (Con)]

I know that the Minister, my noble friend Lady Scott, has engaged with noble Lords on the leaseholder and freeholder Bill and will continue to do so as it progresses through this House next week. I understand that the noble Lord, Lord Best, has reached out to her to consider how to improve the Bill further. I have no doubt that further conversations will happen as we consider the Bill in detail in Committee.