Angela Rayner, the housing secretary, announced new measures to protect leaseholders from exploitative practices by property agents during her speech at the Labour conference. Proposed legislation includes the establishment of an independent regulator to oversee property agents and a consultation to cap excessive administrative fees that leaseholders often face.
The changes aim to benefit approximately five million leaseholders in England and Wales, addressing issues such as high fees for minor home modifications. Rayner emphasized the need for reform in the leasehold sector, which she described as plagued by unscrupulous operators.
Watch for the upcoming public consultation on capping administrative fees, which could significantly reduce costs for leaseholders. The establishment of an independent regulator may also reshape the property management landscape, ensuring better accountability and transparency.