What is NALS?
NALS (The National Approved Letting Scheme) is an independent, not for profit licensing scheme for lettings and management agents operating in the Private Rented Sector. Established in 1999 by the Empty Homes Agency www.emptyhomesagency.com with the backing of industry organisations such as ARLA and RICS the aim was to establish a single badge for consumers to look for and understand the service and protections a NALS firm offered through adherence to strict licensing criteria.
NALS is a well-respected organisation recognised by Government, tenant and landlords organisations alike and is the only agent organisation whose sole focus is consumer protection.
Tenants and landlords can have confidence in a NALS firms because they have agreed to:
- Meet defined standards of customer service
- Be part of a Client Money Protection Scheme
- Have a written customer complaints procedure available on request offering adjudication through a redress scheme
- Have current Professional Indemnity Insurance
- Hold a dedicated client bank account designated as only holding clients money
- Commit to an annual independent inspection of their client accounting procedures
These requirements and service standards provide protection and security for both tenants and landlords.