London Labour MPs slam property management company for 'ripping off' leaseholders

Anna Willis
·2-min read
Apartment buildings in London
-Credit: (Image: John Keeble/Getty Images)


A group of MPs have written to the managing director of a property management company over their concerns leaseholders are being "ripped off". The letter, which has been signed by several London MPs, includes "grave concerns" about housing management fees, service standards and company conduct at FirstPort, which manages properties across the UK.

It comes from numerous complaints from the MPs' constituents, who have reported significant rises in service charge with little to no explanation, as well as poor standards of service from FirstPort, including repairs not being carried out adequately. Residents' wishes are often ignored, the MPs have claimed, and FirstPort frequently don't respond to complaints.

Particularly concerning is how FirstPort is levying charges for insurance and the role the company's internal insurance brokerage, Knight Square, plays within this. Now, the MPs are calling on Martin King, managing director of FirstPort, to come to Parliament to explain the company's conduct.

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FirstPort is the biggest leasehold property manager in the country, according to charity Leaseholder Knowledge. It's currently owned by private equity investors.

Several of the MPs have shared the letter on X, including MP for Hendon, David Pinto-Duschinsky, who has slammed the property management company for "ripping off" residents. He said: "Leaseholders are being ripped off by managing agents who levy huge charges but provide poor service.

"It’s got to stop. I’m one of 34 Labour MPs who have written today to the country’s largest managing agent, FirstPort, to demand they come to Parliament to explain themselves."

Other London MPs who have signed the letter include Rachel Blake, Danny Beales, Ben Coleman and Uma Kumaran, all of whom have developments managed by FirstPort in their constituencies.

Got a story for us? Email anna.willis@reachplc.com.

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