ARMA asks public for views about regulating agents

Interested parties including leaseholders are being given a chance to shape the way that block managing agents are regulated.

A two-month consultation has been launched by the Association of Residential Managing Agents (ARMA) on a new self-regulatory regime for its members.

The new regime, ARMA-Q, will set standards of service for ARMA managing agents with the aim of improving the lives of people living in leasehold flats.

With some management agents having garnered appalling reputations and media coverage, the ARMA-Q scheme is set to fight back.

It will address issues around the conduct of managing agents, how service charge money is dealt with and transparency over insurance premiums and associated companies. It will also set out clearly what consumers can expect from their managing agent with a consumer charter.

Significant changes are also proposed to the way that standards are enforced, with the appointment of an independent regulator and panel to oversee the new scheme. ARMA members will be scrutinised both by industry experts and by representatives of people living in managed blocks of flats.

Former housing minister Keith Hill, the newly-appointed independent regulator for ARMA, will oversee the new scheme.

Hill said: “The needs of people living in blocks of flats are at the heart of the new regime, so we need feedback from leaseholders to make sure we get it right.

“If you employ a managing agent and want to influence the way they are regulated, we want to hear from you. This is an important opportunity for leaseholders to have their say.

“ARMA-Q won’t just affect ARMA members but will lead to improvements right across the leasehold sector.”

Views are being sought not only from people living in managed blocks, but from all those involved in the leasehold sector including landlords, estate agents, surveyors and solicitors.

The deadline for comments is January 31:

www.armaqportal.org.uk.