It’s worth remembering that the residential leasehold sector is unregulated. Anyone can set up as 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 of our 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.
By using an ARMA Accredited managing agent 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.