THE BVRLA leasing broker inspection regime has been augmented, says the regulatory association, following sign off from broker committee members.
The rental inspection regime will be more robust, it says, with the introduction of unannounced visits, more in-depth inspections and a new style feedback report.
The BVRLA says its leasing broker inspection regime will be augmented with the following:
- Full day inspections to allow time for looking at member’s compliance monitoring and sales processes, for a more in-depth inspection
- More detailed interviews with senior management and other relevant staff members to test their understanding of regulatory requirements.
- A revised ‘Get Well’ process to support implementation of mandatory polices and registers.
Inspection partners, the AA and CCAS, who carry out member inspections on behalf of the BVRLA have already started to pilot the changes on a selection of leasing broker members.
At the same time, the BVRLA said its Chief Executive, Gerry Keaney, had sent a detailed response to all brokers on the issues arising from increased BVRLA broker membership fees following the abolition of the flat £715 subscription fee.