Client Money Protection

On 4 March 2019, the Government introduced The Client Money Protection Schemes for Property Agents (Requirement to Belong to a Scheme etc.) Regulations 2019. Client Money Protection (CMP) is a compensation scheme that reimburses both landlords and tenants if an agent goes bankrupt or misuses client funds (through loss, theft, or misappropriation).

Client money can include:

• Rent.

• Other client funds held by agents, such as cash floats for maintenance and repairs.

• Unprotected deposits—those not registered or falling outside the registration requirements.

• Fee money taken in advance.

• Money held by agents appointed as receivers under the Law of Property Act 1925.

• Sale proceeds.

• Any interest earned that is due to the client.

We are protected under the Propertymark Client Money Protection Scheme (CMP). In accordance with the Consumer Rights Act, we proudly display our Propertymark CMP certification both on our website and in our offices.

Deposit Protection

It is important to note that, whether you are a landlord or a tenant, all deposits are protected under the Deposit Protection Scheme (DPS).

Deposits will be held in our designated DPS, though landlords who manage their own lettings may transfer their deposits to an approved alternative scheme.

At the end of a tenancy, deposits can be released back to the tenant if both parties agree. However, if there is damage beyond normal wear and tear caused by the tenant, agreed deductions can be made.

If an agreement cannot be reached and the tenant disputes the deductions, the DPS offers a free Alternative Dispute Resolution (ADR) service to resolve the matter fairly.