My house comes with a covenant to pay a maintenance charge for some nearby land. Part of this charge is a fee paid to the managing agent for the service of doing the management.
This year they have stated that the management fee will increase by 5%. Their explanation was:
All our management fees have increased by 5% this year, in line with other managing agents.
The Competition Act 1998 Section 2 says:
[...] agreements between undertakings, decisions by associations of undertakings or concerted practices which—
(a)may affect trade within the United Kingdom, and
(b)have as their object or effect the prevention, restriction or distortion of competition within the United Kingdom,
are prohibited unless they are exempt in accordance with the provisions of this Part.
(2)Subsection (1) applies, in particular, to agreements, decisions or practices which—
(a)directly or indirectly fix purchase or selling prices or any other trading conditions;
Am I right in thinking that an increase above inflation "in line with other managing agents" is a "concerted practice" to "fix selling prices" and hence a violation of the law?