WHY USE AN ARMA MEMBER?
It's worth remembering 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.
This is why ARMA has introduced a new self-regulatory regime called ARMA-Q that includes a Consumer Charter and bespoke set of professional Standards which are aimed at consumer protection and best practice in all areas of residential long leasehold management.
ARMA says: "Choosing the right managing agent can be a bit of a minefield. The industry is not regulated so they don't have to belong to a professional body or comply with specific standards. We have introduced ARMA-Q so leaseholders can be confident that they are choosing a quality agent."
WHEN USING AN ARMA MEMBER YOU CAN BE CONFIDENT THAT:
They have the right professional experience: every member has to prove they have at least two years' residential management experience.
Your service charge money is being held legally and safely: all members must demonstrate they hold service charge monies in trust as required by law
The member has Professional Indemnity Insurance: this covers you against inadequate advice and negligence relating to a member
Your agent is committed to and bound by professional standards: all ARMA agents must comply with the RICS Service Charge Residential Management Code. This defines best practice in the sector.
We are registered with ICO (Information Commissioner’s Office) for your added security
We are registered with The Property Ombudsman for your peace of mind