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Posted by Richard Saunders

A number of property owners in retirement flats and homes around the UK, ranging from elderly residents to wealthy businessmen, appear to be falling victim to nefarious managing agents who charge high fees for inadequate maintenance services.

According to charity Age UK, these professionals are failing to obtain competitive quotes for consumers and instead choosing to use their own company's subsidiaries to provide reparative work and insurance, the Daily Mail reports.

Complaints that have been forthcoming include fees rising inexplicably each year, overcharging, no explanation regarding said charges and a lack of regulation protecting individuals from poor practice.

"These companies have a free rein to ride roughshod over residents and hold them hostage to a range of unfair practices due to the sector's lack of regulation," said the organisation's Michelle Mitchell.

It comes after the British Retail Consortium stated that commercial landlords need to improve basic standards of property management, with just three per cent of tenants stating that the process for obtaining consent regarding potential alterations to a dwelling has become easier in the last 12 months.

29/10/2010 12:58