Complaints against property management firms double
The number of complaints against property management companies more than doubled last year, it was revealed today.
The Director of Corporate Enforcement Paul Appleby said he was considering legal action in two cases.
The director’s review of the year showed his office received 64 complaints about these firms in 2007 compared to only 26 the previous year.
“Legal action is being considered in two cases at the end of 2007 following the failure of the directors involved to act to remedy the defaults administratively,” the review said.
Mr Appleby said they successfully resolved difficulties in 43 cases by contacting the directors involved while 19 other cases were being assessed.
He said the huge increase was mainly thanks to publicity around a consultation paper on rules for management companies.
A Governance Handbook with rules and regulations for these companies will be published early in 2008 to help address deficiencies in the area.
The Director’s annual review revealed complaints mainly related to failure to hold annual general meetings or inform members in good time of these meetings and failure to disclose the companies’ latest financial accounts.
Elsewhere, the director secured the disqualification of 14 people through the courts and the conviction of 28 companies, directors and others for breaches of company law obligations.
Some 120 directors of insolvent companies were also restricted from running a business.
