Propertymark is to freeze the cost of membership subscriptions this year and will not increase its Client Money Protection levy.
The current cost of ARLA Propertymark and NAEA Propertymark membership is £230 a year, plus a one-off application fee of £50 for member, associate and fellow grades.
The CMP levy remains at £340 for this year.
EYE asked Propertymark if the number of CMP claims had changed over the past year and it said they were “as anticipated”.
The professional body said it had also struck an agreement with accounting firm the Letting Partnership – an ARLA member – to enable members to save money on their annual accountant’s report.
The service, for members who have a financial year-end date of December 31, 2017, or beyond, means that they will pay £250 plus VAT for the Letting Partnership HealthCheck.
Propertymark claimed this represents a £750 saving on the typical £1,000 cost of an accountant’s report, based on its knowledge of what a number of companies charge, together with wider anecdotal evidence and discussions with members.
David Cox, chief executive of ARLA Propertymark, and Mark Hayward, chief executive of NAEA Propertymark, said: “With the increased financial pressures faced by members, particularly with the impending tenant fees legislation, we are committed to reducing the costs incurred for members while making sure they have the best services available to help run their businesses efficiently.
“We’re therefore really pleased to be working with The Letting Partnership, enabling our members to use their HealthChecks.”
Jennifer Markham, chief executive of The Letting Partnership, said: “The Letting Partnership was created with the express purpose of supporting and promoting professionalism within the property services industry specifically in the area of client accounting and client money protection.
“Our HealthChecks have already proved to be the quick and definitive way to confirm that client money is ‘in safe hands’ and we are delighted to be able to offer this service to Propertymark members as a cost-effective alternative to accountants’ reports.”
Comments (2)
There you go, Anyone vain enough (and with no formal qualifications) you can buy letters after your name for just £230 p.a. and a one off payment of just £50.
Only in the industry 2 years and struggling against the chap next door with 25 years experience, try duping the public and buy some letters!
But don’t expect them to do or say anything when the other ‘call centre lister’ members openly ridicule your small local business, claiming they can do a better job than you…..but at a lower (all be it investor subsidised) fee.
They too have bought the letters!