Believe it or not, Lettings as an industry is currently unregulated. Compliance is vital. Landlords should always chose an Agent that is a member of a regulatory body.
There are a number of regulatory organisations, however the recognised industry standard is ARLA Propertymark. Some Agents will also be members of Safe Agent or The Property Ombudsman Scheme for Lettings. However ARLA Propertymark affords the most protection to clients and they have the most rigid and comprehensive membership criteria.
Why Should A Landlord Or Tenant Seek Out An ARLA Member?
ARLA Propertymark leads the industry in setting and regulating the highest standards. It demands certain levels of professionalism and commitment to customer service from its membership.
There is a robust Code of Practice. This covers the key stages in letting and managing a property.
ARLA Propertymark members are required to employ a minimum of at least one member of staff, who holds a suitable industry qualification. Furthermore, it keeps its members up to date with changes in legislation. Additionally, it provides wide-ranging training and guidance to help members understand all aspects of letting property.
Why should you choose a letting agent who is a member of the TPO Scheme?
Any Letting Agent subscribed must follow The Property Ombudsman Letting Code of Practice. This sets out the framework within which member agents must operate and standards expected. The Code is compulsory and rigorous. The agent has agreed to have Professional Indemnity Insurance and an in-house complaints system.