RICS CEO comments on UK Government leasehold reforms

RICS has responded to the UK Government's leasehold reforms announced this morning.

RICS CEO Justin Young said:

“Today’s announcement is an important step forward in raising standards and improving transparency in the leasehold sector. Accountability and professionalism in property management is essential to give leaseholders confidence.

“Mandatory qualifications for managing agents will help to achieve this.

“We fully support the Government’s ambition to deliver meaningful, proportionate reform that has lasting benefit for consumers. The consultation recognises that professional bodies play a critical role in delivering trust and confidence. RICS’ work seeks to ensure the highest level of professionalism across our membership – and around 30% of leasehold properties are managed by an RICS Regulated Firm.

“Qualifications alone, however, are only part of the solution. RICS looks forward to working closely with MHCLG to achieve their vision, drawing on our deep regulatory experience and existing infrastructure.”

-ENDS-

The Royal Institution of Chartered Surveyors (RICS)

We are RICS. Everything we do is designed to effect positive change in the built and natural environments. Through our respected global standards, leading professional progression and our trusted data and insight, we promote and enforce the highest professional standards in the development and management of land, real estate, construction and infrastructure.

Our work with others provides a foundation for confident markets, pioneers better places to live and work and is a force for positive social impact.

For more information:

Kris Hicks
khicks@rics.org

press@rics.org