REGULATION
Governing Bodies
We at BIG Property take great pride in being members of several important governing bodies, which uphold high standards across the whole property industry. This should give you, our customers, confidence in how we conduct our business.
Read about each one, and what they stand for, in this guide. Scroll right to begin.← Our Landlord Menu
ARLA Propertymark →REGULATION
Association of Residential Letting Agents ARLA PropertymarkARLA Propertymark protect consumers and their money by holding members accountable and empowering customers with knowledge and advice. They aim to reassure all of those renting and letting out property that agents who display the ARLA Propertymark Protected logo offer a better service.
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The National Approved Letting Scheme →REGULATION
The National Approved Letting Scheme NALSNALS is a well-respected organisation recognised by Government, Tenant and Landlord’s organisations alike and is the only agent organisation whose sole focus is consumer protection. Tenants and Landlords can have confidence in NALS firms because they have agreed to:
Meet defined standards of customer service
Be part of a Client Money Protection Scheme
Have a written customer complaints procedure available on request offering adjudication through a redress scheme
Have current Professional Indemnity Insurance
Hold a dedicated client bank account designated as only holding client’s money
Commit to an annual independent inspection of their client accounting procedures.
These requirements and service standards provide protection and security for both Tenants and Landlords.
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The Property Ombudsman
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The Property Ombudsman TPOWe are also a member of The Property Ombudsman (TPO). This government approved scheme has been serving consumers and property agents with an alternative dispute resolution service for 27 years and provides consumers with a free, impartial, and independent alternative dispute resolution service.
The Ombudsman’s resolutions are designed to achieve a full and final settlement of disputes and claims made by either party. The Ombudsman can make compensatory awards in individual cases. TPO's recent statistics can be found here.
As required under TPO we have a standard “in house complaints procedure” If you would like any information regarding this procedure, please do not hesitate to contact us.
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The Property Redress Scheme
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The Property Redress Scheme PRSThe Property Redress Scheme is a new, straightforward and easy to use consumer redress scheme for Property Agents and Professionals.
Members & consumers both benefit from a simple 3 stage process to resolve a complaint:
The Member will first be given an opportunity to resolve the complaint directly
The Property Redress Scheme offers a mediation service
The Property Redress Scheme Ombudsman will make a binding decision on the complaint
PRS is authorised by the Department for Communities and Local Government to offer redress to Lettings and Property Management Agents and the National Trading Standards Estate Agency Team (formally the OFT) to offer redress to Estate Agents.
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The Tenancy Deposit Scheme
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The Tenancy Deposit Scheme TDSThe Tenancy Deposit Scheme (TDS) is a government approved tenancy deposit protection scheme in England and Wales operated by The Dispute Service Ltd.
The Housing Act 2004 requires Landlords and Letting agents to protect deposits on assured shorthold tenancies in a scheme such the TDS.
They provide insurance backed tenancy deposit protection with free, impartial dispute resolution for when disagreements arise over how the money should be divided at the end of a tenancy.
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