The property management industry has greatly expanded over recent years and there are no restrictions on anyone starting a business to let out and manage property. We strongly believe that standards within the industry require to be maintained and we are members of the 3 main organisations that deal with property. These organisations along with how they protect your property and any funds that we hold on your behalf are explained below.
Royal Institution of Chartered Surveyors (RICS)
The Royal Institution of Chartered Surveyors is the global professional body that represents, regulates and promotes chartered surveyors. Under the terms of its Charter the RICS is required at all times to act in the public interest. An independent, not-for-profit organisation, the Institution is committed to upholding standards of competence and integrity among its members and providing impartial, authoritative advice on public affairs. Our Partners are chartered surveyors and have therefore undertaken full training and obtained the Associate qualification.
All RICS members are bound by the Institution’s rules of conduct that cover such issues as conflict of interest and the proper handling of clients’ money. The rules also lay down minimum levels of professional indemnity insurance for members in private practice.
There is a low-cost arbitration scheme, administered independently by the Chartered Institute of Arbitrators clients having a genuine grievance with rapid access to justice and redress.
Contact -
The Royal Institution of Chartered Surveyors
Surveyor Court
Westwood Way
COVENTRY
CV4 8JE
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Tel : 0207 222 7000
Fax : 0207 334 3800
Email : info@rics.org.uk
Website : www.rics.org
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Association of Residential Letting Agents (ARLA)
ARLA was formed in 1981 to appraise and regulate all member companies and provides guidelines, training and advice. This ensures that a framework of ethical standards and professionalism is maintained at a level far higher than the law demands. Meetings are held at national and local level to ensure that member firms and their staff are kept fully up-to-date with developing standards and new legislation.
Membership is only achieved after a strict investigation and interview. ARLA members must have a full understanding of the terms and provisions of the Housing Acts and contract law.
ARLA is recognised by public and private organisations as well as the media as the leading professional body that specialises in the letting industry.
ARLA also have a scheme called ARLA 2000 Bonding Scheme. It covers the misappropriation of any funds without the need to prove fraud and dishonesty. It is for the protection of landlords and tenants in the private rented sector and it is now a scheme of First Resort. This means that landlords and tenants using an ARLA agent only need to show that money rightfully belonging to them has been misappropriated. In that event, the first call for restitution is on the ARLA Bonding Scheme, ARLA is your First Resort.
Contact -
ARLA Administration
Maple House, 53-55 Woodside Road
Amersham
BUCKINGHAMSHIRE
HP6 6AA
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Tel : 01494 431 123
Fax : 01494 431 530
Email : info@arla.co.uk
Website : www.arla.co.uk
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The National Approved Letting Scheme (NALS)
You may ask why we need to be members of yet another organisation. NALS is slightly different in that it involves organisations in both the public and private sectors of the letting market. The government was keen to see an organisation that dealt with standards for both types of property. NALS was seen as the best way to promote discussion and standards across the industry, including individual landlords with just one property who can become members.
Contact -
The National Approved Letting Scheme 1
PO Box No. 1843
WARWICK
CV34 4ZA
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Tel : 01926 496 683
Fax : 01926 407 484
Email : nals@talk21.com
Website : www.nalscheme.co.uk
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Note 1: Trading name of the Approved Letting Scheme Limited, Company No. 3664069
Registered office: 195/197 Victoria Street, London, SW1E 5NE
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For further details or to make an appointment for one of our Partners to visit you, please use our Contact Form or contact Colin Dove or Fraser Crichton. Please note that there is no obligation or charge for this visit.
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