What is ARLA? |
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7th July 2010
When choosing a Letting Agent, it is extremely important to ensure they are ARLA accredited. You may be offered cheaper fees elsewhere, but that can prove a costly decision. Recently a London Agent went into administration and Tenants not only lost their Deposits, but their Landlords were legally obliged to reimburse them. Not only that, some discovered that the deposits were not registered leaving the landlord with a potential liability of 3 times the amount of the deposit and unable to seek possession of their property under S21 of 1988 Housing Act.
PROFILE
The Association of Residential Lettings Agents (ARLA) was formed in 1981 as the professional and regulatory body for letting agents in the UK. It was recognised that the requirements of the residential lettings market were so detailed and specific that a separate organisation was required to promote standards in this important and growing sector of the property market.
Membership
ARLA has 3,500 member offices throughout the UK including large multi-branch national companies as well as the smaller single office practices. Membership is achieved only by agents who demonstrate that they have a thorough knowledge of their profession and that they conduct their business according to current best management practice.
Financial Protection
All members are required to have professional indemnity insurance cover. In addition they are covered by a bonding scheme which provides financial protection for client monies which have been misappropriated.
Professional Standards
ARLA members are governed by the Code of Practice providing a framework of ethical and professional standards at a level far higher than the law demands. The Association runs a series of meetings, training courses and seminars at local and national levels to ensure that members are kept fully up to date with the latest best practice.
Membership rules require all member offices to have professionally qualified staff. Members’ client bank accounts are required to be audited annually ensuring that they conform to a stringent accounting practice.
The National Federation of Property Professionals Awarding Body Technical Award in Residential Letting and Property Management is recognised as meeting the requirements for ARLA membership, and examinations can be sat at over 50 test centres across the UK at a time and date convenient to the candidate. For more information on this qualification, including how to study and a list of test centre locations, please visit the NFOPP Awarding Body website by clicking here.
Complaints/Discipline
The Association has its own complaints and disciplinary procedures so that any dispute is dealt with efficiently and fairly. Where necessary, suitable sanctions are imposed on the member.
Influence
ARLA is recognised by government, local authorities, consumer interest groups and the media as the leading professional body in the private rented sector. It produces policy papers on key issues affecting the lettings market and lobbies government and other bodies within the industry to develop the appropriate legislative framework and initiatives.
