CODE OF PRACTICE
As the law stands, anyone can start up a letting agency, irrespective of knowledge or previous experience in the letting or management of residential property. This is a frightening prospect considering the value of your asset - particularly in today's housing market.
Heritage Property Services are members of BALMA - Bristol Association of Letting and Management Agents. BALMA is an established association of agents sharing their professionalism, striving to achieve high standards to benefit both tenants and landlords; whether private home owners, professional landlords or investment companies.
BALMA agents work together under a Code of Practice as follows:
- A member will provide services to all concerned without regard to consideration of race, ethnic or national origins, sex or disability.
- In particular members, will not act on discrimatory instruction or pressure and will as far as practicable follow the Race Relations Code of Practice in Rented Housing. (Keeping in line with government guidelines as laid down in the Race Relations Act 1976). Sex Discrimination Act 1974, Accommodation Agencies Act section 137, Housing Act 1988 Section 180. Local Government Housing Act 1987.
- Every member should keep at least one bank account (Client Account) which shall be separate from the trading account(s). Any money held in such an account shall not be available for the trading purposes of the firm or the security for a loan or for any other purpose, save where specifically authorised by the client.
- Every member shall comply and conform to the content and spirit of the Constitution of the Association, a copy of which should be kept available at the agent's office.
- A member should also keep proper written accounts to show dealings as they relate to individual clients.
- Every member shall be under a duty to avoid any act which involves dishonesty or behaviour of an unscrupulous nature which shows moral unfitness to be a managing agent or in any way brings the Association into disrepute.
- Members agree when letting a property not to demand a payment of a sum of money in consideration of supplying particulars of houses or flats to let. A fee shall only become payable when a tenancy is formally accepted.
- A member shall not seek or conduct business by methods which are designed to take unfair advantage of any weakness or ignorance on the part of any person.
- A member shall use all dilligence looking after its client's interests and shall take all reasonable steps to protect and promote its client's interests.
- A member shall ensure that each client is aware from the outset of the terms and conditions upon which its services are supplied.
- Before accepting instructions a member shall disclose in writing to his client any existing conflict of interest or circumstances likely to give rise to a conflict of interest or circumstances likely to give rise to a conflict of interest.
