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Caxtons, Residential Management Group (RMG) and Braemar Estates are among the latest managing agents to achieve ARMA-Q accreditation.
ARMA-Q is designed to raise standards and quality of service across the residential leasehold management sector. To gain accreditation, managing agents must demonstrate that they comply with more than 160 rigorous industry standards, and it is only awarded to companies that meet top standards and levels of customer care.
Despite collecting over a billion pounds in service charges from leaseholders each year, managing agents are not regulated by government. Unless they are members of a professional body, agents are unaccountable, which leaves the system open to abuse and inconsistent service levels.
ARMA’s chief executive Michelle Banks said: “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. We’re introducing ARMA-Q so leaseholders can be confident they are choosing a quality agent.
“From 2015 anyone appointing 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.”