EDM 1520: Residential estate management companies

That this House notes with concern the rising service costs that many freeholders are currently facing from residential estate management companies; recognises that many people are experiencing significant financial strain due to the ongoing cost of living crisis, which is exacerbated by forecasted service charges, some of which may exceed £12,000 for the next year; further notes with concern that despite these excessively high service charges, maintenance of land and communal areas remains extremely poor, with reports of grass not being cut for months and roads left riddled with potholes; urges management companies to improve their communication with residents to ensure that concerns are properly addressed in a timely manner; and calls on the Government to introduce regulations requiring residential estate management companies to ensure that service charges are fair and affordable, and to guarantee that residents receive an appropriate level of service for the fees they pay.