ARLA Propertymark reduces compliance cost with accountancy deal

ARLA and NAEA Propertymark have introduced a raft of deals in a bid to save agents money. 

Membership subscription fees will remain the same as 2017 and the Propertymark Client Money Protection Levy will not be increased. 

In recognition of the likely reduced income for agents faced with the ban on fees levied on tenants - expected to take effect from April - Propertymark has also announced a collaboration with The Letting Partnership, to enable its members to save money on their annual accountants report.

For those members with a financial year-end date of December 31 2017 or beyond, they will be able to save around £750 by completing The Letting Partnership HealthCheck instead. 

The accountants report typically costs £1,000 but The Letting Partnership HealthCheck will cost members £250 + VAT, saving members an average of 75 per cent on their Propertymark compliance costs.

This applies to agents meeting the eligibility criteria for HealthChecks - that is, with less than £1m in their client account, and are not using a Client Account Service Provider and are not a CASP themselves. 

“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” says David Cox, ARLA’s chief executive.