In June of this year, JFM was approved for regulation by the Royal Institution of Chartered Surveyors (RICS). This marked a milestone moment in our history and represents another significant step in our ongoing journey to provide the best possible property management service. Furthermore, due to other developments within the firm, JFM is now recognised as a Chartered Surveying practice.
Why RICS? Why Now?
RICS is a globally recognised professional body that advocates and enforces the highest international standards in the property market. Aligning with RICS enables us to offer our clients an additional layer of assurance about our dedication to quality.
Through RICS, we gain access to cutting-edge research and guidance. This strengthens our ability to stay ahead of the curve in an ever-evolving industry, enabling us to adapt proactively to changes and continuously improve our service offerings.
Furthermore, RICS regulation comes with stringent ethical requirements. The organisation mandates its members to act with integrity, provide high-quality service, and take responsibility. In an industry where trust is paramount, our RICS regulation serves as a strong testament to our ethical business practices.
Enhanced Client Money Protection
As part of our RICS regulation, we now participate in the RICS Client Money Protection Scheme.
This adds an extra layer of financial security for clients on top of our already comprehensive insurance protection.
In short, the RICS client money protection scheme acts a safety net, protecting client money to the value of £50,000 per claim.
ARMA and RICS: Complementary Frameworks
Our commitment to ARMA remains as strong as ever. The new RICS regulation is not a replacement but an enhancement that bolsters the standards we uphold and the services we provide.
Both ARMA and RICS work towards maintaining high standards in the property management sector, albeit with slightly different focus areas. ARMA is crucial for operational standards, particularly within residential leasehold sector management, whereas RICS offers broader oversight, including elements like valuation and surveying services. The synergy between these two accreditations forms a comprehensive governance framework, ultimately elevating our service delivery.
JFM is proud to be both an ARMA member and an RICS Regulated firm, something that most firms in the sector are unable to demonstrate.
Employee Development and MRICS Pathway
One of the exciting prospects of becoming RICS regulated is the opportunity it creates for our employees. JFM is in the process of developing our training programmes to more closely support the AssocRICS and MRICS qualifications.
We are committed to fostering a direct MRICS-pathway for residential block management, a significant stride forward for the industry. Unfortunately, block managers often encounter challenges in achieving chartered status in their roles due to the lack of a direct path. We aim to be part of the growing movement to change that.
A Promise to Our Clients
To our clients, both existing and prospective, this decision is our promise to you. We pledge our relentless pursuit of excellence and are not content with maintaining the status quo. Instead, we are dedicated to continually seeking ways to enhance and strengthen the level of service you receive from us.
The dual accreditation, by both ARMA and RICS, serves as an indicator of our dedication to maintaining exceptional professionalism in block management. It’s a testament to our commitment to our clients and the broader industry. We are not just managing properties; we are looking after homes and developing communities.
Should you require more information about what this change means for you or have any queries regarding our services, do not hesitate to contact us. At JFM, we remain committed to delivering the excellence our clients deserve.