Compliance

Estate Agent Tips

How To Start In Property

What do I need to do to start operating as an estate agent? Should you work in lettings and wish to go into sales the main thing you should consider in terms of compliance is your AML procedure. As well as compliance, we recommend spending some time researching the sales procedure to ensure you’re fully aware of how to successfully complete a sale before it falls through. Our guide to the moving process is a useful tool you can use, click here to read it. What do I need to do to start operating as a letting agent? If you’re considering becoming a letting agent you should take into account your compliance procedure. With over 150 laws, incorrectly letting a property could lead to a fine or potentially prosecution. We recommend becoming qualified through ARLA to ensure you have the essential knowledge to keep you compliant whilst provide you with …

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Compliance

The Regulation Of Property Agents

ROPA (The Regulation Of Property Agents) have announced major changes to the property sector which are still due to come in. In a new report, the working group announced minimum standards as well as a new code of conduct to the sector including lettings and sales, auctioneers, rent to rent providers, property guardians, international property agents, and online-only firms. Click here to read the full report published by ROPA. To summarise the report, the main changes agents need to know include: The introduction of a new independent property agent regulator (ROPA). A single, mandatory and legally-enforceable code of practice for property agents. The launch of minimum entry requirements and continuing professional development for property agents. Potential changes to fees, charges and the ability to choose a managing agent for leaseholders and freeholders. ARLA and NAEA have summarised the changes in a short video below. Keep compliant with Openview, call 0800 …

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Compliance

What’s Your EPC?

In terms of the EPC (Energy Performance Certificate), new legislation has recently been announced in the private rental sector. From April 1st 2018, agents must have ensured their property meets E on the EPC scale should they wish to let it under a new or renewed tenancy unless you qualify for an exemption . By April 1st 2020, all existing tenancies must meet a minimum of E on the scale. The target is to raise the legal requirement to D by 2025 and C by 2030. If a property is found to have breached these regulations, the agent or landlord is at risk of a £4,000 civil penalty. If a property cannot achieve these ratings by the time stated, it will be banned and made illegal. Below we’ve outlined everything a property professional can do to ensure they meet these changes. What is an EPC? An EPC is a legal …

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