Our Property Professionals Manual provides you with the current and supplementary permanent file programmes needed to provide reports on the handling of clients' money by estate, letting and residential managing agents required by relevant membership organisations.
Reports required by the Estate Agents (Accounts) Regulations 1981 are also covered, as is the provision of a factual report on service charge accounts.
Which membership rules are covered by this manual?
- Propertymark, formerly known as The National Federation of Property Professionals (NFoPP), Conduct and Membership Rules for members of the NAEA (the National Association of Estate Agents) Propertymark and ARLA (the Association of Residential Letting Agents) Propertymark
- Money Shield’s Scheme Rules
- Client Money Protect's Membership Rules
- Safeagent, formerly The National Approved Letting Scheme (NALS), Client Accounting Standards
- The Property Institute (TPI), formerly The Association of Residential Managing Agents (ARMA), Bye-laws and TPI Consumer Charter and Standards
In respect of preparing a factual report on service charge accounts, this manual considers:
- TECH 03/11 Residential Service Charge Accounts, issued jointly by a working party comprising representatives of the ACCA, ICAEW, ICAS, ARMA (now TPI) and RICS.
Our Property Professionals Manual can be browsed online or sections of content or commentary can be downloaded in Microsoft Word or PDF. There is also the flexibility to ‘customise’ a download suitable for your engagement. For every new assignment, you will need to navigate to our website to obtain the most up to date version.
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Manual Details
Content
- Guidance notes that provide you with essential background knowledge of the requirements of the legal and various membership organisation rules and regulations regarding the handling of clients' money, including the reporting requirements and guidance on the use of the corresponding Mercia work programmes. Guidance is also provided on reports of factual findings on service charge accounts.
- Example letters, which include engagement terms for a clients' money assignment relevant to the particular membership organisation. Example engagement terms for reports of factual findings on service charge accounts are also included.
- Example reports for the different membership organisations on the handling of clients' money plus the report required by the Estate Agents (Accounts) Regulations.
- Supplementary permanent file documentation to help ensure that permanent files contain adequate specialist information.
- Current file documentation to enable you to report on clients' money, comprising of planning, completion and work programmes which cover accounting records, receipts and payments, balances, bills and branches for each of the different membership organisations covered by the manual. A short programme for delivering a factual report on service charge accounts is also included.
Latest Update
May 2025
This update incorporates the following changes:
- To reflect the merger of ARMA and The Institute of Residential Property Management (IRPM) in March 2022, at which point The Property Institute (TPI) was formed;
- Money Shield’s updated its Accountant's Report;
- Propertymark’s updates to their Conduct and Membership Rules and Accountant's Report.
For further details, please see the what’s changed guidance included within the product.
September 2023
This update incorporates the following changes:
- Propertymark’s updates to their Conduct and Membership Rules and Accountant's Report;
- ARMA’s changes to its Bye-laws plus the withdrawal of ARMA’s Guidance 'Service Charge Accounting - Best Practice';
- Expansion to cover the requirements specific to Client Money Protect members and to assist accountants performing reviews in order to prepare a Client Money Protect Accountant's Report;
In addition a number of minor amendments / improvements have been made to other sections of the Property Professional Manual, including updating engagement letters to reflect latest guidance.
February 2022
This update incorporates the following changes:
- Propertymark’s updates to their Conduct and Membership Rules and Accountant's Report;
- ARMA’s changes to their Consumer Charter and Standards;
- Updates for a number of legislative changes as a result of Brexit.
For further details, please see the what’s changed guidance included within the product.
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