Members of ALEP commit to adhere to a number of rules. This is to ensure consumers are assured of high standards through their lease enfranchisement projects. Some of the commitments are outlined below:
- To agree, in writing, the terms of engagement to manage a client's leasehold enfranchisement transaction, in as detailed a form as is reasonably possible and to make clear the fee structure and the categories of other services for which additional fees may be charged.
- To manage the client's leasehold enfranchisement transaction in compliance with all the current applicable legislation, terms of leases, contract documentation and good business practice.
- To maintain a current insurance policy adequately indemnifying the firm against proven professional negligence claims. The monetary value of this policy may be laid down in the Code of Practice.
- To extend courteous and professional service to lessees and tenants and to members of the public.
- To actively and regularly consult leading representatives or representative samples of leaseholders before taking major decisions on their behalves.
- To disclose to relevant parties any existing conflict of interest or any circumstances which are likely tomay give rise to a conflict of interest.
- To declare any interest in any contractor or business employed to provide services in connection with the proposed transaction.
- To be honest at all times.
- To be open and transparent in dealings.
- Not to act in a manner which compromises or impairs, or is likely to compromise or impair the integrity of a member, the reputation of ALEP or the high standards of professional conduct expected of a member.
- Not to act in a way that could bring discredit on the profession or lead to a loss of public confidence in it.
- Not to criticise or disparage unjustifiably other members.
- Not to knowingly misrepresent facts or mislead any client or member concerning any aspect of the services they provide.
- To respect confidential information to which they may in the course of their business become privy.
- To provide adequate training to employees and agents, bringing to their attention the contents of this Code of Practice
