The new ARLA president is calling on members to promote the benefits to landlords and their tenants of the Association’s Code of Practice, Client Money Protection and professional qualifications.
David McMaster, 40, who takes over from Robert Jordan this month is making it his personal mission to ensure landlords and buy to let investors understand exactly what they should expect from professional letting agents.
McMaster said: “In the current market, it is vital that ARLA members take every opportunity to reinforce the message we must promote to the public. They must use only regulated agents who are qualified in lettings and residential management. There is too much money at stake in rents, deposits and the value of people’s homes and investments to ignore the benefits of using a professional ARLA agent.”
McMaster is taking over from Richard Jordan. He said: “Richard has spent the last five years working very hard to drive ARLA forward, culminating in the amalgamation between ARLA and the NAEA. This gives us all a great opportunity and scope for the future and lays the foundations for a strong and vibrant private rented sector.”
McMaster brings nearly 20 years experience in lettings to his new post. He began his career in the Private Rented Sector in 1989. This was as the market was deregulated by the 1988 Housing Act and just before the housing crash of 1990.
Today, with the sales market having slowed over the last few months and the credit crunch, David McMaster believes that many people will remain in the private rented sector for longer. This will be either because they have difficulty in getting a mortgage or because they cannot find the property of their choice to purchase.
However, there are large parts of the rental market which are unregulated and leave both landlords and tenants exposed to a poor quality of service or at risk with their funds. Not all deposits require to be protected by tenancy deposit protection.
The minimum a reputable agent should be able to publicly demonstrate is: Client Money Protection, separate bank accounts for all client funds, client accounts - checked annually by an independent qualified accountant, Professional Indemnity Insurance and membership of a tenancy deposit protection scheme.
Agents should also have an internal complaints procedure, operate under a Code of Practice that includes the obligation to submit to disciplinary action by an independent body, and employ professionally trained and qualified staff.
David McMaster was elected to the Regional Council of ARLA in 2004 and, following the amalgamation of ARLA and the NAEA, to the Board of the National Federation of Property Professionals as ARLA President-Elect, in July last year. He is Chief Executive of Residential Lettings and Management of the Norfolk-based Howards Group.
He takes over formally as ARLA President at the Annual General Meeting on 9 May.
