Arla Profile
The Association of Residential Lettings Agents (ARLA) was formed in 1981 as the professional and regulatory body for letting agents in the UK. It was recognised that the requirements of the residential lettings market were so detailed and specific that a separate organisation was required to promote standards in this important and growing sector of the property market.
Membership
ARLA has 3,500 member offices throughout the UK including large multi-branch national companies as well as the smaller single office practices. Membership is achieved only by agents who demonstrate that they have a thorough knowledge of their profession and that they conduct their business according to current best management practice.
Financial Protection
All members are required to have professional indemnity insurance cover. In addition they are covered by a bonding scheme which provides financial protection for client monies which have been misappropriated.
Professional Standards
ARLA members are governed by the Code of Practice providing a framework of ethical and professional standards at a level far higher than the law demands. The Association runs a series of meetings, training courses and seminars at local and national levels to ensure that members are kept fully up to date with the latest best practice.
Examinations are held regularly and membership rules require all member offices to have professionally qualified staff by the year 2000. Members’ accounts are required to be audited annually ensuring that they conform to stringent accounting practice.
Complaints/Discipline
The Association has its own complaints and disciplinary procedures so that any dispute is dealt with efficiently and fairly. Where necessary, suitable sanctions are imposed on the member.
Influence
ARLA is recognised by government, local authorities, consumer interest groups and the media as the leading professional body in the private rented sector. It produces policy papers on key issues affecting the lettings market and lobbies government and other bodies within the industry to develop the appropriate legislative framework and initiatives.
Typical of such initiatives are:
- The extremely successful ARLA Buy to Let scheme which succeeded in persuading lenders to reduce interest rates for investors wishing to purchase properties to let. As a result of this, some £12 million was invested in the private rented sector within its first 12 months of operation in 1996. In 2001 investment is now running at £1 billion per annum. Visit the Buy To Let section on this site for more details.
- Companies wishing to join ARLA already have to meet higher standards of performance than those defined under the NALS scheme
- ARLA is also a founding member of the PSNTO (Property Services National Training Organisation) and has been deeply involved in the production of approved standards and learning materials. Details can be found at www.psnto.org
Marketing Advantage
With its policy of developing and maintaining the highest possible standards within its membership, ARLA is seen as a benchmark for professionalism that both landlords and tenants can have confidence in. This provides its members with a unique marketing advantage in an industry where standards vary significantly and where clients should choose who to use with great care.
