Adam Coombs discusses why it's important to appoint an accredited managing agent for residential leasehold management
It’s worth noting that the residential leasehold sector is unregulated. Anyone can set up as a managing agent and start collecting service charges without the relevant qualifications or experience.
ARMA accredited managing agents must meet the ARMA Consumer Charter & Standards, a bespoke set of professional standards aimed at consumer protection and best practice in all areas of residential long leasehold management.
All ARMA members must comply with these standards, so anyone appointing an ARMA agent to manage their property can have peace of mind that they conform to high standards and are independently regulated.
By using an ARMA accredited managing agent you can be confident that:
- They have the right professional experience
- Your service charge money is being held legally and safely
- The member has professional indemnity insurance
- Your agent is committed to and bound by professional standards
At Hillcrest, we believe that this regulation and the structure provided by our membership is a positive thing. It allows us to demonstrate to our clients that we are a professional organisation and we are happy to be checked and audited.
With more regulations and legislation of this sector to come, Hillcrest are ready and look forward to continuing to offer our clients an excellent block management service.
If you would like to know more about ARMA and what they strive to achieve, please visit www.arma.org.uk
Adam Coombs MIRPM AssocRICS
managing director, on behalf of Hillcrest Estate Management Limited