A group of Members of Parliament (MPs) have expressed their concerns about a property management company that they believe is taking advantage of leaseholders. The MPs, including several from London, have sent a letter to the managing director of FirstPort outlining their “grave concerns” about the company’s practices.
Many residents have complained to their MPs about significant increases in service charges without a clear explanation, as well as poor quality of service from FirstPort. Some residents have reported that repairs are not being done properly and that their requests are being ignored. The MPs are particularly troubled by the company’s charging for insurance and the involvement of Knight Square, FirstPort’s internal insurance brokerage.
FirstPort is the largest leasehold property manager in the UK, and it is currently owned by private equity investors. MP David Pinto-Duschinsky has criticized the company for “ripping off” residents and has called for a meeting with the managing director to address these concerns. Other London MPs who have signed the letter include Rachel Blake, Danny Beales, Ben Coleman, and Uma Kumaran, all of whom represent constituents with properties managed by FirstPort.
The MPs are demanding accountability and transparency from FirstPort, and they are urging the managing director to come to Parliament to explain the company’s actions. This move highlights the importance of holding property management companies accountable for their conduct and ensuring that leaseholders are not being exploited.
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