Estate Agents & Property Managers
Businesses that operate property letting or property management are often registered under a professional scheme such as NAEA, ARLA, NALS, and RICS. Each of these regulatory bodies has its own set of rules that the business must follow, especially in the area of client monies. We have experience in auditing under all of these schemes, and as part of our work, we report on where systems may be deficient and make recommendations on how to improve controls.
Many estate agents and property managers are setting up new businesses to take advantage of a move in the market back into property letting, as a result of reduced mortgage lending. A popular way of setting up is through a franchise, and our team is well-placed to advise on the most effective tax treatment.
As many professional practices have found, the downturn in the property market has had significant impact on estate agent businesses. Cost reduction strategies have been an important aspect of streamlining to ensure survival. We have experience in reviewing branch financial performance to assess where potential closures are necessary.
If you would like more information on how we can help your business, please contact Karen Hain on 01772 821021.
- The Law Society - the regulatory and representative body for 116,000 solicitors in England & Wales
- The Royal Institute of British Architects (RIBA) - the RIBA has over 30,000 members and is one of the most influential architectural institutions in the world
- The National Association of Estate Agents - the regulatory body for estate agent
- The Association of Residential Lettings Agents (ARLA) - Information on ARLA and its bonding scheme for landlords and tenants
- The National Approved Letting Scheme (NALS) - A professional body designed to promote quality standards to lettings and management agents
- The Bar Council - which represents Barristers in England and Wales
- The Solicitors Regulation Authority - regulates solicitors in England and Wales
- The Royal Institution of Chartered Surveyors - professional body for qualifications and standards in land, property and construction