Heritage Management Limited (HML) is ARMA-Q accredited, the regulatory regime for residential leasehold managing agents. The compulsary regulatory review visit (RRV audit) was completed over two days by the RICS who's rating placed HML in the top percentage of the managing agents audited in the first year of ARMA-Q ensuring HML remains at the leading edge of best practice in property management.
Properties managed by ARMA-Q accredited agents are guaranteed a number of safeguards including:
To achieve accreditation, all managing agents have to demonstrate compliance with over 160 rigorous industry standards. It’s the first time such measures have been introduced for agents in England and Wales, where there are an estimated five million leasehold properties. Managing agents are not regulated by the government. Unless they are members of a professional body, agents are unaccountable, which leaves the system open to abuse and inconsistent service levels.
ARMA-Q was introduced by the industry’s trade body, the Association of Residential Managing Agents (ARMA). The organisation is aiming to push up standards of property management across the board and plug the gap left by the lack of statutory regulation.
An ARMA representative stated: “Choosing the right managing agent can be a bit of a minefield. The industry’s not regulated so they don’t have to belong to a professional body or comply with specific standards. ARMA-Q has been introduced so property owners can be confident they are choosing a quality agent who have to comply with rigorous industry standards. Anyone now employing an ARMA-Q agent to manage their property can have peace of mind that they conform to high standards, are bound by a consumer charter and are regulated independently. ARMA-Q accreditation is voluntary - managing agents don’t have to sign up. So those that do are showing a clear commitment to providing the best service.”
Heritage Management Limited has always been committed to providing high service standards and accreditation to ARMA-Q is a further endorsement of the Companies continued commitment to this.