ARPM calls in an Insolvency Practitioner
For almost two Weekes we have been liaising with some of the letting agents who had outsourced their property management service to a well -known provider ARPM. It appears that rental payments have not been made to landlords and there is a high level of concern with regards to the companies finances
We have advised letting agents who have raised concerns to contact Trading Standards, Action Fraud, CM Protect and MyDeposits for further assistance as it has been impossible for us to make contact with any of the named directors.
Companies House now shows that Neum Insolvency is dealing with the insolvency of ARPM.
For further assistance do not hesitate to contact us.
April Fool's Day - Deadline for Key Legislative Change
1st April is a day for Fools, a day of practical jokes and hoaxes. April Fools’ Day spread throughout Britain during the 18th century. In Scotland, the tradition became a two-day event, starting with “hunting the gowk,” in which people were sent on phony errands (gowk is a word for cuckoo bird, a symbol for fool) and followed by Tailie Day, which involved pranks played on people’s derrieres, such as pinning fake tails or “kick me” signs on them.
Of late it appears that the Government feel this day is significant and has bought Legislation into force on the 1st April, no pun intended we hope.
Client Money Protection (CMP)
The Housing and Planning Act 2016 introduced powers allowing the Government to bring in legislation making membership of an approved or designated CMP scheme mandatory and in 2018, the Government announced regulations that would require all letting agents in England to belong to an approved CMP scheme by 1 April 2019. The deadline for the regulations was then extended to 1st April 2021.
What does this mean?
By 1st April 2021, all Letting Agents in England must be able to prove they have CMP in place. The approved providers of CMP have been in place for almost 2 years and therefore, there should be no surprise that this is a mandatory requirement. It is also important to remember, regardless of whether working from home or not, that the transparency rules relating CMP must also be adhered to.
Letting Agent's Date for the Diary - 2021
A few days into 2021 and we are already navigating the beginning of a third Lockdown. The difference this time is that lettings agents, landlords and tenants have been here before. Covid-19 Protocols are in place, there is a much better understanding of what can and cannot be done, WFH processes systems are up and running.
Being organised and prepared is very important. Certain things will be happening in 2021 than can be managed and planned for now. Landlords will need their letting agents support and guidance more than ever, so plan your diary well.
The third Consultation on Domestic Smoke and Carbon Monoxide Alarms ends on 11th January 2021.
The proposals are that social landlords ensure at least one smoke alarm is installed on each storey of a building where any rooms are used as living accommodation; carbon monoxide alarms to be fitted alongside the installation of fixed combustion appliances of any fuel type; and private and social landlords to install carbon monoxide alarms in any room used as living accommodation where a fixed combustion appliance is used.
Hamilton Fraser approved as Client Money Protection Provider by Government
Property industry insurance and redress giant Hamilton Fraser has become the first company in the UK to gain official approval to operate a client money protection (CMP) scheme.
Hamilton Fraser, which has been operating the scheme since 2014, is now ready for April 1st when it becomes mandatory for all letting agents and property managers to sign up to CMP or face fines and sanctions for non-compliance.