Businesses that operate property letting or property management are often registered under a professional scheme such as NAEA, ARLA, NALS, and RICS. Each of these regulatory bodies has its own set of rules that the business must follow, especially in the area of client monies. We have experience in auditing under all of these schemes, and as part of our work, we report on where systems may be deficient and make recommendations on how to improve controls.
Many estate agents and property managers are setting up new businesses to take advantage of a move in the market back into property letting, as a result of reduced mortgage lending. A popular way of setting up is through a franchise, and our team is well-placed to advise on the most effective tax treatment.
As many professional practices have found, the downturn in the property market has had significant impact on estate agent businesses. Cost reduction strategies have been an important aspect of streamlining to ensure survival. We have experience in reviewing branch financial performance to assess where potential closures are necessary.
What our clients say about us…
“On start-up we simply hadn’t appreciated the full implications of adhering strictly to our regulations, but the knowledge of the team kept us on the straight and narrow. On top of this, the commercial benefit flowing from our management information was a bonus in our competitive market.”