T6. Mr Butler asked the Minister of Finance whether her Department is engaged in any reforms or policy-led changes with regard to property management companies, and, if so, will she update the House on them. (AQT 526/22-27)

I have had quite a bit of correspondence on management companies from Members. I am sure that many of us have received concerns from constituents about them. I have raised the matter with officials and asked what can be done. As the Member will be aware, there are different responsibilities for the issues across a number of Departments, but I have asked officials to look at the matter.

The Minister may be aware that legislation is passing through Westminster on the issue. Is she aware — this is local to me in Lagan Valley — that, in complex arrangements where there are commercial and residential leasehold properties, the properties are not only impacted on by the management fees, which are outstripping the rates, but are being devalued, meaning that people who are trying to sell their properties have to decrease the value of their property to make a sale?

I am not aware of the specific issue in Lagan Valley to which the Member refers, but a number of general concerns have been raised in relation to the issue of management fees. I would be happy for the Member to correspond with me in relation to that issue, and we can get some advice from officials.