Who are ARLA?
The Association of Residential Letting Agents is a professional and regulatory body in the UK concerned with residential lettings and property management. Formed in 1981, it has grown in influence and importance within the private rented sector and is fundamental in promoting standards of conduct and integrity within the industry.
With increasingly complex and extensive lettings laws and legislation being passed through parliament on a daily basis, and more serious sanctions in place for those who are ignorant of them, it has never been so crucial to ensure that your agent is ARLA registered.
Lettings and property management is not a regulated sector of the property industry which means that agents with no experience or training can cause chaos with your investment.
Why is it important to choose an ARLA registered agent?
ARLA registered agents have studied and taken exams to be approved as a member, which ensures a gold standard of service, knowledge and ethical behaviour.
Members must adhere to best practice guidelines, keep their continuing professional development up to date and follow the association’s rules of conduct.
The ARLA agent is duty-bound to stay up to date on new laws, legislation, market trends and in fact anything that may affect his client’s business interests.
ARLA members are taught and encouraged to make their business as transparent as practically possible. A property portfolio, or even a single buy to let investment, is a massive financial asset and any tenancy must be facilitated by a number of hefty transactions. With so much of your money moving around you need to know that your agent holds a client money protection insurance certificate and their accounts are annually volunteered for inspection by an impartial expert.
Important benefits of ARLA licensed agents
By using a Licensed ARLA agent you are guaranteed:
- That the agency is covered by a Client Money Protection (CMP) Scheme.
- That the agency has Professional Indemnity Insurance.
- To be consulting with a qualified and trained agent who can give you professional up-to-date advice and guidance.
- That you are dealing with an agent who voluntarily follows the Code of Practice and Rules of Conduct laid down by their professional body.
- That you have a route to redress should something go wrong.
Look for the logo
It indicates that your agent cares for and respects their clients and works to a high standard of professionalism. Make sure you choose an agent that volunteers to be monitored by a self-regulatory organisation.
Tom Weston – Lettings Negotiator