Rayner announces crackdown on 'cowboy' leasehold property agents
The housing secretary used her Labour conference speech to announce protections for leaseholders facing 'injustice'.
Housing Secretary Angela Rayner has announced plans to crack down on cowboy property agents who exploit leaseholders with hidden fees and overcharge for simple changes. The government will legislate for an independent regulator and consult on capping administrative fees, which could affect the five million leaseholders in England and Wales.
Rayner cited examples of leaseholders being charged £250 to own a pet and £400 to change their front door. The government is also aiming to ban new leasehold flats, described by Labour as a feudal system, and introduce a commonhold system where residents collectively own and manage their buildings. The new watchdog would set codes of practice, require property agents to obtain a license, and have the power to revoke licenses for non-compliant agents.
A public consultation will determine the rate of caps on leaseholders' fees. Additionally, the government plans to cap ground rents, which may go beyond the current £250 annual limit.
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