This, it would seem, is an attempt by the CIF to preempt the provision of statutory enforcement powers to the National Property Services Regulatory Authority (NPSRA). I’ve already written many times about how I don’t hold out much hope for the NPSRA. Then again, we’re being told how bad it is that other professions (such as law professionals) have their own self-regulation. What makes us think that this idea is going to be any better in the building industry?
According to the article:
DEVELOPERS who refuse to hand over control of management companies to residents face being fined and named and shamed by their colleagues.
The CIF through the IHBA are proposing to facilitate this self-regulation through a new code of practice which, according to the article will tell:
how management companies in apartment blocks should be run (and will say that) residents should be told up to three years in advance what their annual service charge will be.
The code … sets out clear guidelines aimed at overturning suspicions that they are being ripped-off by their management companies.
I’m guessing the last part of that statement is the opinion of the journalist rather than the specific contents of the code.
I can’t find any mention of the code of conduct on the CIF website (never mind trying to find any details on the IHBA itself). I wouldn’t hold out much hope that anything is going to come from this.
Here a thing then. If the IHBA name, shame and fine a prominent fully paid up member of the CIF for being in contravention of this new code of conduct, I’ll match personally match 100% of that fine and donate it to a charity for the homeless.
Addition – thanks to this article in SiliconRepublic.Com.
- This code of conduct will only apply to management companies set up for developments built by IHBA members AFTER MAY 15th 2008. So, every management company that exists at the moment will be exempt from this new code of conduct. (Page 2, second paragraph)
What’s the bloody point?