We appreciate that looking for a new Managing Agent can be daunting and it is sometimes hard to know what you should be looking for, but we would always recommend using an ARMA agent.
At MIH, we are proud members of ARMA and what it means for our clients and these are some of the reasons why:
Frequently asked questions about ARMA
Who is ARMA?
The Association of Residential Managing Agents (ARMA) is the leading trade association for companies that manage private residential leasehold blocks of flats in England and Wales. ARMA promotes high standards of leasehold management by providing advice, training and guidance to its member firms.
What is ARMA’s role?
The leasehold management sector is unregulated; anybody can set up as a managing agent and start trading. ARMA was founded in 1991 to bring together professionals involved in private residential leasehold block management.
• Require our members to meet those standards
• Provide technical advice and guidance to our members
• Produce information and advice notes for leaseholders
• Run training courses on the leasehold system
• Promote professionalism in property management
• Campaign for improvements in relevant legislation and policy
Who regulates ARMA?
ARMA members are regulated by an independent Regulatory Panel comprising six lay members who have an active knowledge of the leasehold sector and relevant professional expertise. Leaseholders are represented on the Panel. No one on the Panel is connected with ARMA or its members.
If an ARMA member is found to have breached our membership requirements the Panel will impose disciplinary action.
What standards are required of ARMA managing agents?
To become a member and be ARMA Accredited firms must meet the requirements of the ARMA Consumer Charter & Standards. This comprises over 180 bespoke Standards developed specifically for managing agents. These set out how ARMA members must deal with their clients.
ARMA Accreditation (formerly known as ARMA-Q) aims to raise standards and the quality of service to consumers. So, by choosing an ARMA member consumers get higher standards, greater confidence and more transparency. ARMA members are also audited every three years on our behalf by the Royal Institute of Chartered Surveyors (RICS).
Any member who falls short of the Charter or fails to meet the Standards may be referred to the independent Regulatory Panel and may be subject to disciplinary action.
What are the entry requirements for ARMA?
We thoroughly vet all our members before they join ARMA:
They must demonstrate they have been trading successfully as managing agents for at least two years
They must demonstrate they are holding service charge money legally and safely
They must have the correct insurance
They must have a published complaints procedure and belong to a recognised ombudsman scheme
They must operate according to ARMA’s byelaws and comply with the Service Charge Residential Management Code of the Royal Institute of Chartered Surveyor (RICS)
As covered above, all ARMA members must comply with the Consumer Charter & Standards.
What does ARMA do for its members?
The management of leasehold blocks requires specialist knowledge and understanding of a unique body of law and complex procedures. ARMA provides a focus for guidance, training, debate and campaigning to improve professional standards in the way that managing agents operate.
ARMA provides its members with:
Technical support and access to over 100 Guidance Notes
A comprehensive professional training programme
Access to a health & safety advice line, a business support helpline, and an ARMA crisis line
A monthly e-newsletter and a quarterly printed newsletter (AQD)
Regional Briefings across the county in April and May
ACE Awards dinner in summer
An Annual Conference and Dinner in autumn
Access to favourable energy and insurance buying power
Access to an RMC/RTM Directors’ web portal
Government lobbying for improvement in legislation and policy.
What is ARMA’s position on leasehold reform and the regulation of managing agents?
ARMA is in favour of leasehold reform and has long campaigned for improvements in leasehold legislation.
We believe that statutory regulation for all managing agents is the best solution to raise standards across the industry. We continue to lobby for statutory regulation and aim to develop a model that could be applied across the sector.