The National Approved Letting Scheme (NALS) has announced its Client Money Protection contribution rates for 2012-2013.
They are:
• £220 for a single office firm which does not hold deposits in their client account.
• £295 for a single office firm which does hold deposits in their client account.
Both rates are for single offices, compared with ARLA, which has this year cut its rate to £359, charged regardless of the number of offices.
Caroline Pickering, chair of NALS, said: “NALS is the only organisation in the sector operating a CMP scheme which recognises that agents which do not hold deposits in their client account should pay less of a contribution to the scheme than those who do.
“We believe this is a fair and reasonable approach.
“A single office firm which does not hold deposits in their client account can pay as little as 61p per day, and those that do, 81p per day.
“Being part of a Client Money Protection Scheme means both landlords and tenants have the assurance and peace of mind that their money is safe – something that you cannot put a price on.”
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Comments
Bit more like it, their 'one off' £175+VAT non-refundable admin fee is a bit of a put off though!
It is important to understand the difference between an Accreditation Body focused on establishing and promoting an industry minimum standard and that of a Trade Association to whom the industry members gravitate in search of wider commercial benefits. NALS fulfils the first function, ARLA theoretically the second. The problem is that ARLA have always seemingly wanted to be the industry regulator - that doesn't work I am afraid.
Ray - and what does ARLA actually do other than flog its wares?
The Localism Act comes in force next week and their website is devoid of any guidance.
The newsletter had a broken link about EPCs and nothing about deposits. Its a damn disgrace.
NALS on the other hand sent out a very useful email to all.
Ray - and what does ARLA actually do other than flog its wares?
The Localism Act comes in force next week and their website is devoid of any guidance.
The newsletter had a broken link about EPCs and nothing about deposits. Its a damn disgrace.
NALS on the other hand sent out a very useful email to all.
because NALS don't do anything to promote professionalism or education within the industry, just a set of standards that could be from any of the other regulatory bodies
I dont know why more agents dont just dump ARLA and NFLoPP and join NALS