The British Property Federation said that a number of its members had voted to form a creditors’ committee at a meeting with administrator Duff & Phelps last week but lost out.
The largest unsecured creditor, the Pension Protection Fund, voted against the proposal - it said the move to create a creditors' committee was unusual.
Listed landlords British Land, intu, NewRiver and Land Securities are among those that face losing out.
BPF policy director Ian Fletcher said: “We are astounded that landlords have been denied the opportunity to better scrutinise what is going on... Complete transparency is of the utmost importance in any administration.”
A spokesman for Land Securities added: "We support the BPF's disappointment."
MPs are trying to discern what led to BHS’ failure. It entered administration in April with a £571 million pension deficit.
Goldman Sachs UK boss Michael Sherwood is among those giving evidence.
