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OFT investigates Scottish property managers

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by Gill Montia
OFT investigates Scottish property managers

The Office of Fair Trading (OFT) has begun a market study into property management services for common and shared residential property in Scotland.

Tenements and other collective residential properties in the region use property managers, known as factors, to manage shared areas such as roofs, staircases, entrances and gardens.

The study will look at how much choice and information is available to homeowners, how property managers are selected and the quality and costs of the services provided.

It will also consider ways in which homeowners can effectively manage their property services and secure access to redress in the event of a dispute.

The OFT has set up the study in response to concerns raised about the current system of property factoring by the Scottish Consumer Council (SCC).

Following a survey of residents of collective accommodation in the Dennistoun area of Glasgow, the SCC found that the concept of the factor being an agent acting on behalf of the co-proprietors was not a true reflection of the relationship for many homeowners.

The OFT will publish its report by the end of the year, based on input from homeowners, suppliers operating in the sector and other key parties.

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News posted: June 18, 2008

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