Are Your Agents Just Following Guidance Or Are They Accountable By Regulation?

Sep 30, 2020 | 0 comments

Here at TPM we are incredibly proud of the skill set that we have founded the company on – our focus from the start has been accreditations and regulation.

There is no requirement for a property management company to be regulated and can instead ‘follow’ the guidelines but Transparent’s view is that if you have the controls and systems in place then why wouldn’t you be accredited to the top of your field?

To demonstrate our Transparent nature, we have built that foundation on accreditations and control that will only serve us well as we grow.

We are a member of IRPM, regulated by RICS and also have affiliations to ICAEW

We are extremely proud and committed to the regulation of this industry and continually strive to be one step ahead of the competition but what do the accreditations mean for you as our client?

Member of IRPM (Institute of Residential Property Management)

TPM is a member of IRPM, the body for property professionals providing nationally accredited qualifications. There are four levels of qualification, affiliate, associate, member and fellow

At TPM all our property managers are currently members (MIRPM) so qualified to manage your block. All property managers at TPM follow the IRPM qualification – there are no exceptions!

Regulated by RICS (Royal Institute of Chartered Surveyors)

RICS is the world leading professional body for qualifications in land and property. The body holds weight in the property management industry in relation to the holding of client funds. To be RICS regulated as a firm means that your client monies are held securely in designated client accounts that are not part of TPM so its safe

At TPM we can confirm that we have a different client account for each block that we manage and service charge is paid into each block’s account. There is no ‘general’ client account where multiple clients pay into so service charge receipts are never lost.

Bank accounts are reconciled daily so leaseholders can always see their payments made and accounts are up to date – this information is accessible 24-7 for our leaseholders to prove we have nothing to hide in our financial control

We are audited by RICS annually to ensure compliance, but we would be happy to do this every day!

ICAEW (Institute of Chartered Accountants in England and Wales)

Although TPM is not a member of the ICAEW, our founder Sarah Walker FCA has been a member for over 20 years. One of the most advanced learning and professional development accountancy qualifications available.

For TPM this means to our clients that the financial side of both the company accounts and client finances is unrivalled in the local property management market

ICAEW training office

Sarah is a fully qualified trainer with ICAEW for future accountants. All TPM finance staff working on client block finances study towards a minimum basic entry qualification for ICAEW which they can then use to further develop their careers in accountancy and property.

This means that only financially trained people work on block finances.

Commitment to accreditation and regulation

TPM are advocates for accreditation and regulation in an industry known not to be. We are not reinventing the wheel but we are definitely trying to streamline it!

The best part of this culture is the feedback we are receiving from our clients who find this approach inviting and often a breath of fresh air – check out our reviews on Google and Facebook to see that its working

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