July 21, 2024

The Independent covers Cirrus and other leasehold scandals

IndependentLast Saturday, The Independent wrote a wide-ranging report on leasehold issues including the Cirrus scandal and the need for reforms.

Headed ‘The secret of how to give your flat a new lease of life … ‘  it was, in fact, a round-up of: the Cirrus scandal, the OFT investigation into leasehold (the scope of which concludes on January 17), and featured quotes from LKP, Carl and ARMA.

Michelle Banks, the ARMA chief executive, again repeated the nonsense that: anyone can set up as a managing agent so leave it all to ARMA to sort out.

In fact, the abuses of leasehold involve her own members, or those of RICS.

It would be interesting whether Michelle Banks could point to a single major tribunal or court case involving a freeholder employing a non-ARMA or non-RICS managing agent which might support this repeated and self-serving claim.


  1. Trevor Bradley says

    Great. More news published in another newspaper. How do we get it in the “working mans press” or even ITV 1 at 7.30 pm?
    Yet again, what utter rubbish from Michelle Banks.
    Who the hell does she think she is?
    I would love to do a one-to-one questions and answers on prime time TV with her. No chance, she would not dare to appear.
    I am the director of a small management company and we only do freehold. We are a 1000% succesful. By that I mean thats what the residents think and say. We run to perfection
    If the day ever comes that we are required by law to be a member of the likes of ARMA, RICS etc I will close down the company. I have yet to come across anyone who is any good that belongs to these organisations. I would not be a member if you paid me.

    • I 100% agree with you Trevor. Like you I own and run a small Property Management Company in Essex and a number of our clients are ex managed ARMA member estates.

      The reason I set up my company was so that I no longer had to be associated to organisations like ARMA. I am closely watching the LKP Accreditation system to see if this is something that is more meaningful and the early signs are promising. However, we give our customers assurances and guarantees including taking no commissions/fees on the services we arrange for them, reasonable management agreement terms, affordable service charges, honesty, transparency and communication and our service delivers which means our customers stay with us.

      We don’t need ARMA, ARMA need members to survive!!!

      Glad to read and know I am not alone in my views of ARMA.

  2. Lesley Newnham says

    Excellent article, more needed!

    Agree with both comments so far on ARMA. Although they have useful information for leaseholders and run training sessions some of which I would like to have attended I refuse to put any money in their coffers!

  3. Glad to see reputable agents like Trevor and Bernadette speaking out about the corruption in the leasehold industry, I applaud you both well said.