A large letting agent in the South East was bidding farewell to a longstanding member of staff who was retiring. They had been the lettings accounts administrator for 15 years, providing continuity to landlords and tenants alike, but the agency didn’t want to trust a new employee with all their client accounting.
Their accounts administrator had been exceptional at handling rent collection and had thorough processes for arrears management. They needed to ensure someone could deliver the same level of experience and customer service skills that people had been used to for over a decade, but were worried a new administrator would unravel systems and procedures that had been put in place.
For some smaller agents, rent collection and arrears management seems like a small and insignificant role, but it was huge for us. We had an excellent track record for resolving rent arrears quickly and wanted this to continue. Bring ARPM into the team was the best decision we made.
Over a period of four months, ARPM had a number of meetings with the client at their offices and ours to introduce our rent collection service and procedures. The agent also spoke with an existing partner of ours who we are providing the same service to. Once the decision was made to work with ARPM, we introduced our new accounts administrator as a designated member of staff to the tenants and landlords and agreed to operate from the client bank account so that no tenants needed to change their standing orders.
ARPM have been providing accounts administration services to this client for more than two years now. The number of arrears across the portfolio has now been reduced even further, to only one in a portfolio of 300+ and landlords are receiving their rental payments quicker than ever before, generating a number of positive reviews for the agency.