Retirement Property Management Companies: Regulation Debate
Full Debate: Read Full DebateBradley Thomas
Main Page: Bradley Thomas (Conservative - Bromsgrove)Department Debates - View all Bradley Thomas's debates with the Ministry of Housing, Communities and Local Government
(3Â weeks, 1Â day ago)
Commons ChamberI agree. That goes back to the point I made a moment ago that too many of these companies see their residents as a soft or easy touch. They think that their residents will just suck it up and simply write the cheque.
Bradley Thomas (Bromsgrove) (Con)
I thank my hon. Friend for giving way again and for securing this Adjournment debate. Does he agree that there is a particularly predatory aspect upon the death of a resident who has occupied one of these properties? I would like to use this moment to pay tribute to Alex Roll, a constituent of mine whose mother’s estate has been crawled all over by predatory management companies that have seen an opportunity to effectively seize the assets of someone who worked tirelessly through their life. This system urgently needs reform—it is desperate for it.
I agree with my hon. Friend and with his constituent, Alex Roll, who has been in contact with me via Facebook. I take the point that my hon. Friend makes on her behalf, and that she makes on behalf of countless others, which is that these companies are inclined to effectively hunt with the hounds and run with the hare at the same time. When somebody dies and the property then goes up for sale—sometimes, because of the restrictive covenants, the resale can be a slow and difficult business—not only do these companies receive a fairly significant clawback at the point of sale, but they demand service charges to be paid while the property is vacant or while probate is awaited. They really are trying to milk it from both ends, and I just do not think that stacks up in the court of public opinion as being fair or justifiable. One should be able to say, “This property is vacant. We will not levy the service charge, as that will effectively be included in the clawback that we get at the point of sale,” because there is clearly no resident in that property using those services.