How does the Government aim to raise standards in leasehold management?

The government aims to raise standards in leasehold management primarily through the establishment of legislation, approved codes of practice, and the implementation of national standards set by industry bodies. This approach is systematic and formal, ensuring that there is a consistent framework that leasehold management companies must adhere to in order to provide quality service and protect the rights of leaseholders.

Legislation plays a crucial role in setting minimum standards and regulations that govern the behavior and practices of management companies. It also provides a basis for addressing issues such as transparency, accountability, and consumer rights. Approved codes of practice complement this by offering best-practice guidelines that help leasehold managers operate effectively while prioritizing the interests of leaseholders.

National standards developed by recognized industry bodies contribute to establishing clear expectations for quality and service, fostering a more professional and reliable leasehold management environment. This coordinated effort aims to enhance the overall experience for leaseholders and improve the oversight of management practices, which is vital for promoting standards across the sector.

In contrast, other options lack the structured and enforceable measures that come with legislation and standards. Informal guidelines do not have the authority required to effect significant change, funding all activities may not guarantee quality control, and privatized management does not inherently raise standards without oversight and