MANAGERS of apartment blocks in Scotland became the third segment of the United Kingdom real estate market to be investigated by the nation's antitrust regulator in the past five months.
The Office of Fair Trading said it is investigating the competitiveness of the property managers, so-called factors, after a complaint from the Scottish Consumer Council.
The London-based regulator will look at how factors are chosen and the services they deliver, as well as the redress available to customers, Bloomberg News reported.
"This study will take a detailed look at Scottish property-management services, consider how well they are working for home owners, and take a view on any recommendations which might bring positive outcomes for consumers," said Heather Clayton, the OFT's senior director of infrastructure, in an e-mailed statement.
The real estate market is under increased scrutiny as regulators examine the impact of the credit crunch on consumers.
The Ministry of Justice said in May that UK home-repossession claims by mortgage lenders rose 16 percent from a year ago in the first quarter, the steepest rise since the early 1990s.
The OFT's former head, Bryan Carsberg, said in a report released on Monday that real estate brokers, renting agents and residential property managers should be licensed and hold special qualifications.