Presentation on theme: "Ian Potter FARLA FRICS Managing Director. A membership body for Residential Letting Agents. Voluntary Self Regulation Consumer Protection Disciplinary."— Presentation transcript:
Ian Potter FARLA FRICS Managing Director
A membership body for Residential Letting Agents. Voluntary Self Regulation Consumer Protection Disciplinary Process
Admission by Professional Recognised Qualification Individual basis. If a member is a Principal, Partner or Director must have:- Client Money Protection Designated Clients Bank Account Professional Indemnity Insurance Membership of a Redress Scheme
ARLA through an awarding body regulated by Ofqual provides a level 3 award. There is also a level 4 The Technical Award in Residential Lettings and Property Management is level 3 Certificate in Residential Lettings and Property Management Level 4 It means:- The member has an understanding of the law around Landlord and Tenant Legislation The member is able to advise their clients
This is a scheme provided by ARLA for its members which protects the clients against mis-appropriation of clients funds by a Principal,Partner, or Director member. There are limits with up £500k for any agent £25K for any one claimant, landlord or tenant Maximum of 3 months rent for the landlord
All clients funds in an account that cannot be used by creditors if the business were to fail. Bank holding funds requires to acknowledge that they have no right of offset for borrowings Gives protection under the Financial Services Compensation Scheme to each client should the bank fail ( Subject to other funds held with same bank max £85k)
Means that if the members makes a professional error that costs a client money the client can make a claim with a degree of certainty that funds are available to cover subject to acceptance or findings of negligence.
Provided through compulsory membership of an Ombudsman Scheme. Usually TPOS, The Property Ombudsman Service It covers service failure where the consumer has suffered from actions, other than financial misappropriation, which have cost the consumer financial loss. Disciplinary action can also be taken against a member by ARLA for other areas of breach Of Rules or Code of Practice.
New Magazine in December New Website probably this month TV Advertising Campaign in November TAGS for Boards New Training Courses for 2014 New Qualifications for 2014 Primary authority scheme with TSO
OFT Consumer Guidance for Lettings Immigration Bill Mandatory Redress Consumer Rights Bill Water Act Sections 13(2) Rent Increases CAP guidance on Fees 1 st November
Introduce a Code of Practice Draft Tenants Charter Model Tenancy Agreement Review of Standards