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Managing agents urged to step up to the plate and apply for ARMA-Q

14th October 2013|POSTED BY: Admin

Managing agents have just three weeks to go before they can apply for accreditation under ARMA-Q the new self-regulatory regime for the residential leasehold management sector. Addressing over 500 delegates at ARMAs 18th annual conference, chairman Ben Jordan urged members to step up to the plate and come forward for accreditation.

He said: The future shape of our industry is in your hands. Do the right thing. Amend your business practices if necessary. Come forward for accreditation and make ARMA and ARMA-Q the success it deserves to be.

Details of how the accreditation process will work and what members need to do to prepare for it were outlined by ARMAs chief executive, Michelle Banks: The ARMA-Q application process is robust but it needs to be to ensure that the regime has credibility. We need to demonstrate that we have teeth and that those teeth will be used not only to protect consumers, but also to enhance the professional standing of our members.

Also addressing the conference was The Right Honourable Keith Hill, ARMAs regulator and chair of the independent regulatory panel: "The leasehold sector is on the cusp of transformation, and the best of the sector is willing it already through ARMA-Q. The change will be completed either through statutory regulation or through ministerial approval of the ARMA-Q standards. One spin-off of this change will be the greater professionalisation of the sector."

Other topics covered at the conference ranged from updates on the latest legal rulings including the landmark case of Phillips v Francis, to practical advice on reserve funds, communication skills and how the introduction of smart meters will affect leasehold properties. The conference finished with a panel discussion where leading figures in the industry came together to debate some of the topical issues facing the sector.