RICS Regulation

• To have qualified, or be qualifying, as a Chartered Surveyor. This normally involves obtaining a degree and thereafter passing a test assessing professional competence after a minimum of two years appropriate experience supervised by a Chartered Surveyor.

• Thereafter, members are obliged to undertake continuing professional development to ensure that they keep abreast of changes relating to the property sector;

• To comply with certain Codes of Practice defining best standards including the Service Charge Code and the Lease Code;

• To join the Clients Money Protection Scheme where money is held by the firm. This sets out and monitors strict procedures and provides insurance for clients where errors have been made;

• To abide by a formal framework for valuations known colloquially as the Red Book;

• To have proper Professional Indemnity Insurance to cover situations where negligent advice or actions occur; and

• To have a Complaints Handling Procedure enabling aggrieved clients to implement a system of redress.