Russian landlords: The Russian residential rental sector is bracing itself for the introduction of new legislation that will require all property management companies to register in a process that will require their top executives to sit an exam and to make a one-off payment of RUB30k ($670). There are about 2.4 million apartment blocks on Russia and the standard of utilities and overall property management are a constant cause for complaint from residents. It is estimated that the new legislation – due to come into force next year – could put between 10% and 15% of the country’s 16,000 property management companies out of business. Officials claim that the registration requirement will raise levels of professionalism in the sector and increase transparency. The Moscow Times
Russian landlords face major shake-up in rental sector reorganisation
There are over 2.4m apartment blocks in Russia