Modives’ Post

Whether you’re a landlord seeking reliable property management or a leaseholder in need of a trustworthy block manager, the search for a reputable Managing Agent can be daunting. We understand the importance of finding an agent who prioritises compliance and trust. That’s why we’re proud members of several esteemed schemes, dedicated to ensuring every aspect of our service is above board and compliant. 💼 Here’s a glimpse into our commitment to compliance: 🔒 Client Money Protect (CMP): Your financial security matters. With CMP membership, we safeguard client funds in separate accounts, giving you peace of mind that your money is in safe hands. 🏠 Property Redress Scheme (PRS): In the rare event of a dispute, our membership ensures swift and fair resolution, allowing both landlords and tenants to rest assured that their concerns will be addressed professionally. 💰 Deposit Protection: Tenants deserve fair treatment. As members of government-endorsed deposit protection schemes, we guarantee that deposits are handled fairly and returned appropriately at the end of the tenancy. 🔐 Information Commissioner’s Office (ICO) Membership: Your data privacy matters. Our ICO certification demonstrates our commitment to upholding data protection laws, providing you with the confidence that your information is handled with care and compliance. 💬 Ready to Learn More? For detailed insights into our compliance measures and how we can support your property management needs, don’t hesitate to reach out to our team. ☎️0161 6760084 📧info@northmodeproperies.co.uk 💻https://lnkd.in/gZ5RbgMn #Propertymanagement #clientmoneyprotect #propertyredressscheme #depositprotection #ico #dataprotection #fairresolution #clientfundsprotection #safeguardingclientfunds #peaceofmind #compliantagent #trust #financialsecurity

Organisations using technology to serve customers (i.e. almost all) have a few tsunami-like waves of risk arriving in the next few years. This is one of them. Potential changes in the UK law on computer evidence may seem a world away, but the impacts will be felt globally. How many organisations would be confident to stand up in court and explain how their systems and processes worked, on a specific day, for a specific customer? Imagine then, if it became the norm for customers to challenge how their mortgage, life insurance, managed funds, council rates, pay day loan were calculated? Organisations running legacy in house platforms could find the staff with this knowledge have long since retired or moved jobs. Organisations who have highly agile modern platforms could find themselves unable to model and explain the operations due to the pace of change. Then layer on top the challenge of proving the impact of bugs & defects which are latent, identified & fixed over different time periods. These are not new issues, but we may be entering an era where the customer is empowered and encouraged to test them.

Data is the lifeblood of any business, particularly within the property management industry. It helps paint a picture of your business, inform decisions and unlock growth. But what is property data? Is it an asset or a liability? We are defining what property data is, what it can do for your business and how property management software can help ⬇️ https://lnkd.in/gjNRgmZc #PropertyManagementSoftware #PropertyData #DataCompliance #DataSecurity

Technical debt is something that can plague #insuranceadjusting firms. This is characterized by things like high maintenance costs, compliance issues, and poor security. Fortunately, there’s an easy solution: a custom claims management system.

🏡 Navigating the Compliance Landscape in Real Estate: A Friday Reflection Happy Friday, real estate brokerages and pro-tech enthusiasts! 🚀 I recently delved into the evolving world of FINTRAC compliance and the challenges our industry faces. In a conversation with J. Friedrich Klaus, co-founder of Illuminai Intelligence Corporation, we explored the shifts, mistakes, and future of compliance. 🔄 Shift in Compliance Requirements: The responsibility for FINTRAC compliance has shifted to managing brokers, with a new emphasis on "ongoing monitoring." As of 2021, substantial fines loom for non-compliance in implementing a program, reporting transactions, record-keeping, knowing your client, and applying ministerial directives. 💡 Common Mistakes: Many brokerages assume a continuation of FINTRAC's "soft touch," but Klaus warns that stricter enforcement is a response to Canada's international reputation. With limited resources, enforcement agencies rely on penalties, as exemplified by a $132,000 penalty on Global West Realty Limited. 🔮 Future Compliance Challenges: Looking ahead, Klaus predicts increased scrutiny, real-time reporting, and heightened transactional scrutiny. Improved information sharing and access to governmental data will heighten compliance expectations, urging real estate professionals to actively detect fraud and adapt to evolving anti-money laundering regulations. 🌐 Mitigating Risk and Starting the Journey: In a landscape of unclear legislation, brokerages face challenges in finding compliant "ongoing monitoring" solutions. Klaus emphasizes the urgency to act, advocating a proactive approach to compliance. Understanding technology offerings is crucial, and Illuminai stands out by actively assisting brokers in meeting ongoing review aspects of PCMLTFA. ⏰ The Time to Act is Now: Given substantial fines, aggressive enforcement, and increasing political scrutiny, brokerages must take proactive steps. Whether through Illuminai or other means, adapting to the changing regulatory landscape is crucial for the real estate industry's role in the anti-money laundering world. Let's embrace the challenge and ensure a seamless and efficient compliance experience. Have a compliant and fantastic Friday! 🌟 #RealEstate #ComplianceJourney #ProTech #FridayReflections REM | Real Estate Magazine Mike McAra Lynette Keyowski, MS, CRAE, CAE What's your strategy for navigating the evolving landscape of FINTRAC compliance in real estate? Have you explored innovative solutions to streamline ongoing monitoring and stay ahead of regulatory changes? Let's share insights and best practices to ensure a smooth compliance journey. Drop your thoughts below! ⚖️🚀 #RealEstateCompliance #InnovationInBrokerage"

Compliance Confidence: "Navigate Regulatory Complexity with Secure Quadient Solutions" In today’s fast-paced digital landscape, the sheer volume and complexity of regulations have reached unprecedented levels. For businesses, staying compliant is more challenging than ever. Failure to adhere to these regulations can result in severe legal and financial consequences, including hefty fines, litigation, and reputational damage. In such a complex regulatory environment, ensuring compliance while protecting sensitive data is not just a legal obligation but a business imperative. #Quadient #QuadientSolutions #Article #macrosoftinc #MacrosoftPakistan https://lnkd.in/dFtPBQdx

🔍 Developing an Effective Unclaimed Property Program: Essential Insights Does your business have a robust unclaimed property program in place? At UPCR, we understand the complexities involved and are here to help. A well-crafted unclaimed property program is crucial not only for compliance with state laws but also for protecting your business from potential penalties and operational disruptions. 📌 Key Insights from Our Latest Blog: Comprehensive Coverage: An effective program goes beyond compliance - it ensures operational continuity and builds trust with your customers by reuniting them with their property. Strategic Benefits: Streamlined procedures not only enhance efficiency but also significantly reduce the risk of financial liabilities, safeguarding your business's reputation and operational stability. Interested in learning more about the key components and benefits of a well-structured unclaimed property program? Dive deeper into our expert tips and find out how UPCR can assist you in enhancing your procedures. 👉 Read the full article on our blog: https://lnkd.in/gHBzSV9t Let’s ensure your business is protected and compliant. Contact us today for a free consultation and see how we can help you develop or refine your unclaimed property program. #UnclaimedProperty #Compliance #BusinessOperations #UPCR

Someone Had to Do Something: A Call for Accountability in Compliance The estate and lettings industry is at a critical juncture, facing substantial risks from outdated software and the entrenched interests of service providers. For years, agents have been “client cash account captives,” locked into legacy platforms that are difficult—if not impossible—to leave behind. These systems manage client funds in ways that no other platform can replicate, effectively holding agents hostage. According to a recent Kerfuffle survey, approximately one-third of lettings agents are exposed and unable to comply with NTSELAT’s deadline for material information standards, which is only 155 working days away. Despite NTSELAT giving the industry 18 months from November 2023 to prepare, time is running out. Many agents depend on legacy platforms from providers that have not prioritized compliance. This situation jeopardizes agents’ obligations and undermines the integrity of the industry. These providers and their cohorts seem willing to let agents face the consequences of non-compliance. Agents are caught in a Catch-22: they can’t easily switch off these systems without losing operational continuity, yet these platforms do not support the essential compliance measures needed. If I followed Carnegie’s advice, I might keep quiet. But if I don’t advocate for agents, who will? Not Propertymark or RICS; they’re not actively pressuring suppliers on behalf of their members. Not the service providers, who benefit from their current control. I’ve been an advocate for agents for 30 years, and I will continue to ensure they are properly served. Agents should not have to choose between inadequate tools and violating regulations. This is not a philanthropic gesture; the incumbent suppliers have created an opportunity by neglecting to help their customers comply. I possess the domain knowledge and solutions needed to address this issue. I have developed a collaborative system designed to help agents meet compliance requirements effectively. Someone had to pick up the baton and run with it, setting agents free from the shackles of non-compliance and the burdens of outdated legacy systems running on obsolete technology. While this message may not win me friends among some software suppliers, I am committed to advocating for agents and demanding accountability. Agents deserve better than failing systems, consumers deserve transparency, and our industry needs the chance to move forward. DM for a chat—June is not far away, and there will be a queue once agents realize time is running out and their current supplier has no intention of helping them comply.

Security, risk and compliance are hot topics in today's world of commercial leasing. Is your organization meeting the new standards? Learn more with our latest blog ;)

Is your leasing process meeting the new standards for compliance and risks? Learn why these are an absolute MUST in today's world of commercial leasing... https://lnkd.in/gQnCjzkf #retailleasing #duediligence #compliance #REITS