17 Jun

Investigation launched into Scottish property managers

Investigation launched into Scottish property managers

Property managers in Scotland are the subject of a new investigation by the Office of Fair Trading (OFT), after concerns were raised about potential problems in the sector.

The Scottish Consumer Council (SCC) submitted information to the OFT that has prompted the body to take action.

OFT senior director of infrastructure Heather Clayton stated that a "detailed" investigation will be carried out that will lead to "positive outcomes" for Scottish consumers.

Douglas Sinclair, the chair of the SCC, added: "The SCC has expressed concerns about the current system of Scottish property factoring and welcomes the OFT's announcement today."

Property managers in Scotland are responsible for shared or common property such as gardens, roofs and stairways.

Last month, OFT announced that it is to conduct a market study in the area of sale and rent back arrangements, which according to the body, is an area of the housing market that is growing quickly.
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