Many landlords are still not aware that by not protecting their tenants bond within an approved scheme (and within a set timescale) they are risking a county court order for the bond and a fine of three times this amount!
It is also not commonly known that the fine and county courty judgement would be awarded against the Landlord not the agent acting on their behalf... Not good news if your agent has decided to use the bond for other "activities"...
All the more reason to use a professional letting agent such as Martin & Co who are members of not only the government approved Deposit Protection Scheme (DPS) and The Ombudsman for Letting Agents, but also the Association of Residential Letting Agents (ARLA) too - A condition of membership is that "client" funds must be completely separate from the business accounts and must be confirmed that this has been the case by the companies accountant as part of an annual return submitted to ARLA alongside proof of Professional Indemnity Insurance, Client Money Protection Insurance etc.
The Localism Bill due to be implemented next year will see more changes to the way the courts deal with deposit protection (or lack of), a blog can be found on the DPS website, see the link below,
Should you have any queries relating to the above or any other property investment matters please do not hesitate to contact me.
Best regards,
Phil
Ps - If you are looking to expand you portfolio there are some fantastic opportunities on the market at present...
t: 01706 648277
f: 01706 648377
e:
rochdale@martinco.com
| MON | 09:30 to 17:30 |
| TUE | 09:30 to 17:30 |
| WED | 09:30 to 17:30 |
| THU | 09:30 to 17:30 |
| FRI | 09:30 to 17:30 |
| SAT | 09:00 to 13:00 |
| SUN | Closed |
Martin & Co is conveniently located at 15b Cheetham Street in the centre of Rochdale, with ample on street parking and a car park opposite - FREE after 3pm and all day Saturday
Landlords: Are you looking for an agent with credentials, qualifications, professional memberships and importantly one you can trust? If so, please read on...
*** FREE Rent Guarantee & Legal Fees Insurance Policy for Managed Properties! ***
*** Three Months FREE Management for tenanted property transfers ***
Investors: Looking for an affordable investmenr with 8% + Gross Yield? Why not consider Bury's prestigious new development The Rock. As Miller Homes approved agents Martin & Co would be happy to discuss the opportunites and discounts available...
Can't Sell? Why not rent instead. I will gladly talk through the options available to you at your pace and in plain english, therefore allowing you to make an informed decision.
Please call for details of the above or to discuss your individual requirements.
We look forward to hearing from you,
Best regards,
Philip Watson MARLA, MCMI
Managing Director
Ps...
Regarding your current agent, do they:
Have Client Money Protection Insurance?
Have their Accounts Audited at least annually?
Use a Separate Client Account for client monies?
Have Employers Liability insurance?
Have Public Liability insurance?
Have Professional Indemnity Insurance?
Submit your Tenants bond to a government approved scheme within 14 days?
Belong to the Association of Residential Letting Agents (ARLA)?
Belong to The Ombudsman for Letting Agents?
Use an independent Association of Professional Inventory Providors (APIP) inventory clerk?
Send their Staff on regular training courses?
Specialise ONLY in Lettings & Property Management?
Have over 170 Branches thoughout the UK?
Advertise on the UK's major web portals including Rightmove, Zoopla, Findaproperty & Primelocation?
Fully understand your needs?
Have the knowledge and experience required to protect your investment?
Only use contractors who possess Professional Indemnity insurance?
Actually Care about your investment?
If not, then we should talk.
4 Bedroom - Detached - Bacup 595 pcm - http://t.co/5jknWNci #martinco
Tue May 22nd, 11:59
VAT No: 982647770
Web Design Agency Kalexiko
SEO by Elevatelocal
