The Property Ombudsman (TPO) has received official government recognition as a redress scheme for lettings and property management agents. The news comes ahead of legislation expected later this year which will force all letting agents to join an approved scheme.
The Property Ombudsman service is designed to both regulate the practices of letting agents, as well as offer a solution to unresolved disputes in the event that landlords or tenants feel they have been subjected to unfair practices, poor service or other unscrupulous behaviour.
Martin & Co letting agents in Cambridge have been a voluntary member of the TPO for a number of years, in addition to being a member firm of a range of other recognised industry and regulatory bodies, including: the Association of Residential Letting Agents (ARLA), The National Approved Letting Scheme (NALS), Safe Agent, and the Deposit Protection Service (DPS).
So, why is using a TPO (The Property Ombudsman) registered letting agent (like Martin & Co Cambridge) so important?
Letting agents registered with the TPO must adhere to a strict code of conduct governing how they operate - which includes standards of service they must provide for both landlords and tenants, best practice procedures with regards to areas including 'impartiality' and 'access' for consumers, the provision of clear and unambiguous written 'terms of business', and a commitment to demonstrate a 'duty of care' to both tenants and landlords.
Agents must also adhere to strict money handling obligations, including the registration of tenant's deposits in-accordance with recent deposit protection legislation. Members must also hold full professional indemnity insurance in place at all times, while also having in place an in-house complaints procedure with written procedures.
About Martin & Co Letting Agents in Cambridge
The Cambridge branch of Martin & Co is a licensed member of the Association of Residential Letting Agents (ARLA) and the National Approved Letting Scheme (NALS) - a government-backed organisation set up to maintain proper standards of professionalism, best practice and compliance in the UK lettings industry. With a proactive team, and staff qualified in Residential Lettings and Property Management with the National Federation of Property Professionals (NFoPP), the Cambridge office is also registered with The Property Ombudsman and uses the government-appointed Deposit Protection Service (DPS) for all tenant deposits.
For best practice the Martin & Co Cambridge office is a member of the SafeAgent scheme, it has its accounts externally audited every 6 months and holds all client monies in a ring-fenced client account, with full client money protection in place at all times. Martin & Co UK Ltd holds Investor in People status, and runs a year-long internal training academy, with both internal and external consultants and trainers from ARLA and the NAEA.