ODCE Report on 2007

[fishfoodie]

“significant increase”, i.e. 146%, in complaints about property managment companies.

Full story here.

[edit]

“As we enter the New Year, more uncertain economic conditions prevail than we have had for some time. In these circumstances, it can be expected that an increasing number of companies will face significant challenges in the coming year and some will, inevitably, fail. My Office has already seen a significant increase in the number of insolvent liquidations in the final quarter of 2007 compared with the average for the previous 12 months or so. The average number of insolvent liquidations has risen from the low to mid-20s per month to about 30 per month. However, it should be noted that this figure is still broadly in line with the historical average of 26 to 30 insolvent liquidations per month which prevailed in the period from 2004 to about mid-2006. Only time will tell whether we are seeing a serious deterioration in the number of insolvencies occurring or simply a return to longer term averages.”