15 Jun 2018
Even though it’s not a legal requirement (yet!), at Ultra Lets we believe a NALS membership is extremely important. It sets requirements and service standards for letting agents to provide security and protection for both tenants and landlords. We’re one of few agencies who are NALS approved and are proud to have been a member for over 6 years.
So, what is NALS? It’s the National Approved Letting Scheme, a licensing scheme that’s been around since 1999.
Being a NALS firm, we agree to:
- Meet defined standards of customer service
- Be part of a Client Money Protection Scheme
This is a scheme that offers recompense to tenants and landlords of rent and deposits (where monies have been misappropriated or fraudulently used)
- Have a written customer complaints procedure available on request offering adjudication through a redress scheme
If you were to ever have a complaint, you’d need to ask for a copy of our procedure which will outline the method in which we will seek to resolve any issues. If you are not satisfied with the outcome, then you can refer the matter to a redress scheme for independent review.
- Have current Professional Indemnity Insurance
This covers legal costs and expenses incurred in your defence, as well as any damages or costs that may be awarded.
- Hold a dedicated client bank account designated as only holding clients money
- Commit to an annual independent inspection of our client accounting procedures
To find out more about the benefits of NALS, click here.
Author: Alice Grainger