As specialist accountants for estate agents we provide a full range of solutions tailored to your needs, including bookkeeping, management accounting, profit improvement, tax planning and business assurance.
Running an estate/lettings agency requires the ability to fine balance and manage many tasks. There is an abundance of legislation and administration that has to be adhered to.
Housing Acts, Landlords and Tenants Act, Health and Safety, Assured Shorthold Tenancy Agreements, Terms of Business documentation, contractor’s and guarantor’s agreements, and information for the Deposit Scheme are just some of the matters that your business has to handle on a day-to-day basis. It means you can soon become overwhelmed unless good quality systems are put in place from the start.
Like solicitors firms, estate and lettings agents handle other people’s money (referred to as client monies), so it is crucial to keep accurate records that comply with the regulations for this. The problem is errors can easily be made due to the high number of transactions in these businesses.
Livingstones Accountants can set you up with bespoke accounting software to record all your transactions in real time, thereby reducing the propensity for errors while providing you with reports to keep you informed of performance. We have many years experience advising agents in the fields of property sales and lettings. Our teams can produce reports for you required under the Association of Residential Letting Agents (ARLA) Byelaws as well as the Estate Agents (Accounts) Regulations 1981 (EAAR) and the National Association of Estate Agents (NAEA).