Why do I need a Compliance Audit Day?
As the number of statutory obligations placed upon letting agents has steadily increased, so has the need for a regular compliance audit of your business processes. From ‘Right to Rent’ checks to Deposit Compliance, the knowledge of housing law required by letting agents has grown to such an extent that robust policies and procedures are necessary to protect not only the landlord, but the letting agent themselves, from claims of financial compensation from other parties.
Our experienced and knowledgeable compliance officers will spend an agreed amount of time with you at your offices, using their considerable expertise to provide advice on how to improve your procedures and give you peace of mind. For example, one of the most common requests will be ensuring that the terms of business with the landlord is up-to-date, removing any wriggle room for the landlord to cancel the contract and risk one of the letting agents most valuable revenue streams. We commonly find that recent legislative changes are missing from a high proportion of agents’ terms of business, leaving them dangerously exposed.
What’s covered in a Compliance Audit Day?
A Training for Professionals compliance day can be tailored to suit your needs and requirements at a cost which we believe represents value for money. The typical one day compliance audit would include the following:
An evaluation of your company website and other available material on the internet.
An evaluation of your standard documentation i.e. tenancy agreement, terms of business with your landlord, tenant application form, contractor terms of business & deposit forms.
A bespoke audit of pre-agreed areas, selected by yourselves from our suggested essential topics.
An assessment of common procedures such as deposit compliance, repairs, safety checks, legal paperwork.
A customised Legal Update on lettings legislation for staff members.
Income Stream Review; we can also undertake to review your fee & commission structures and advise on fees that you do not currently charge, explaining how these can be implemented effectively and importantly fairly considering legislative obligations.
A detailed report on actions required from the days visit.
An in-depth phone call from your compliance trainer, 1 month after the visit to follow up on any suggestions made and questions you have on any further action needed.
The compliance day offers an opportunity to have a ‘spring clean’ to make sure your business is ready for all future challenges, so that you stay one step ahead of your competition.
How do I book a Compliance Day?
Simply call the Training for Professionals team on 01258 85 85 85
Or email us at email@example.com