Not all Lettings Agents are created equal

Not all Lettings Agents are created equal

“Not all Lettings Agents are created equal”

Landlords, do you know the differences between an ARLA Propertymark Lettings Agent, and one which isn’t?

So, here, James Duffy (right), MARLA Propertymark Licensed Professional explains.

“Agents do not currently have to be qualified.  In fact, anyone can set up a lettings agency.  But only an ARLA Propertymark agent offers true protection and peace of mind”.

Your Propertymark Protected Agent provides guarantees because:

  • Your rental income is backed by Propertymark Client Money Protection (CMP).  This scheme reimburses Landlords and Tenants for missing rent or deposits if the agent’s business fails*
  • He/she holds a property management and lettings qualification to at least Level 3 eg A Level standard or equivalent
  • Your agent undertakes regular continuing professional development (CPD) and refresher training; is up-to-date with complex legislative changes and best practice; additionally must comply with a nationally recognised Code of Practice
  • Membership is required of one of the Government approved independent redress schemes: The Property Ombudsman, or Property Redress Scheme
  • Agents offering Propertymark Protection must hold appropriate Professional Indemnity Insurance
  • Holding client money means your agent’s bank accounts are independently inspected regularly
  • If your agent offers Sales as well as Lettings, they must be registered with HM Revenue and Customs for anti-money laundering.

ARLA Propertymark members are required to undertake training every year.  This means that agents are up-to-date with best practice and understand legislative changes which
regularly alter the requirements involved in residential lettings.”

James’ Top Tip:

*“If you think it’s expensive to hire a professional to do a job, wait until you hire an amateur”.  This applies when choosing Lettings Agents, Estate Agents, Conveyancing Solicitors, builders, and architects.”

Find your ARLA Propertymark Lettings Agents here.

Call us if you need professional advice from our ARLA Propertymark Licensed team – 01273-735237 or contact enquiries@callaways.co.uk