Labour MPs have a duty to stand up for the voiceless and disempowered, such as leaseholders who are let down by broken systems. The Bill aims to establish an independent regulator for managing agents, requiring mandatory qualifications and fit-and-proper-person tests, enforcing compliance through a code of practice and licensing scheme, providing legal obligations and mechanisms for redress, and ensuring funding from regulated firms and individuals. This is needed due to failures in the current system where managing companies provide inadequate service and ignore residents' concerns.