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Propertymark reduces the cost of protection for members

Monday 08 January 2018

PRESS RELEASE: To support its ongoing commitment to reducing members’ costs, Propertymark has announced a series of measures to help agents at a time when the cost of doing business is at a high.

Membership subscription fees will remain the same as 2017, and the Propertymark CMP Levy will not be increased. To take this commitment further, Propertymark is announcing a collaboration with The Letting Partnership, to enable its members to save money on their annual Accountants Report.

The service launched for members who have a financial year-end date of 31st December 2017 or beyond and means that where members’ firms meet the eligibility criteria1, they will be able to save around £750 by completing a Letting Partnership HealthCheck instead. The Accountants Report typically costs £1,000 but the Letting Partnership HealthCheck will cost members just £250 + VAT; saving members an average of 75% on their Propertymark compliance costs.

David Cox, Chief Executive, ARLA Propertymark and Mark Hayward, Chief Executive, NAEA Propertymark commented: “With the increased financial pressures faced by members, particularly with the impending tenant fees legislation, we are committed to reducing the costs incurred for members while making sure they have the best services available to help run their businesses efficiently. We’re therefore really pleased to be working with The Lettings Partnership, enabling our members to use their HealthChecks.”

Jennifer Markham, Chief Executive, The Letting Partnership, commented:  “The Letting Partnership was created with the express purpose of supporting and promoting professionalism within the property services industry specifically in the area of client accounting and client money protection.  Our HealthChecks have already proved to be the quick and definitive way to confirm that client money is ‘in safe hands’ and we are delighted to be able to offer this service to Propertymark members as a cost effective alternative to accountant reports.”

Ends-

For further information contact:

Propertymark Press Office

Tel: 020 7566 9777

E-mail: propertymark@lansons.com

1The eligibility criteria for HealthChecks are:

  • Less than £1 million in their client account
  • Not using a Client Account Service Provider (CASP) or not a CASP yourself

About ARLA Propertymark

ARLA Propertymark is the UK’s foremost professional and regulatory body for letting agents; representing over 9,000 members. Our members operate to professional standards far higher than the law demands and we campaign for greater regulation in this growing and increasingly important sector of the property market. By using an ARLA Propertymark Protected agent, consumers have the peace of mind their agent will provide a professional service and their money is safeguarded by Propertymark’s Client Money Protection scheme.

About NAEA Propertymark

NAEA Propertymark is the UK’s leading professional body for estate agency personnel; representing members who practice from over 11,500 offices in all aspects of property services. We are dedicated to the goal of professionalism within all aspects of property, estate agency and land. Our aim is to reassure the general public that by appointing a NAEA Propertymark Protected agent to represent them, they will be safeguarded and receive the highest level of integrity and service for all property matters.