Letting agents register with the appropriate schemes to protect client money. Read more about how we provide peace of mind for tenants and landlords�..

According to a recent report carried out on behalf of Yougov, hundreds of thousands of pounds in the form of rent and tenancy deposits are at risk due to one in five landlords and tenants not being protected by Client Money Protection (CMP). When you are using a letting agent, as either a tenant or as a landlord, it is vitally important you make sure you and your money are protected.

The CMP is a compensation scheme run by The Federation of Property Professionals and will consider an application to compensate you if an agent misappropriates your rent, deposit or other client funds. Find out more here…. or view the Client Money Protection leaflet here.

I know it’s hard to believe! It is not currently a mandatory requirement for letting agents to be registered with the CMP. According to Landlord Today, mandatory CMP is now on the government’s agenda with amendments to the Housing Planning Act so this has to be a good thing and a step in the right direction.

To offer some perspective this report, the research also identifies that 61% of renters incorrectly believe that their money is protected by law.

We are registered with the CMP service and we like to be transparent about everything we do. It is important for us to highlight the importance of making sure you are protected when letting through an agent.

If you would like more advice about being a tenant or a landlord, we would love to hear from you.

Get in touch with us today