News

SAFEagent

What does the SAFEagent logo mean?

Any lettings and management firm displaying the SAFEagent logo is part of a recognised industry Client Money Protection (CMP) Scheme and a member of a regulatory organisation.

From 27 May 2015, under the requirements set out in the Consumer Rights Act, it became compulsory for lettings and management agents to display in their offices and on their website whether or not they are part of a Client Money Protection Scheme so it is important that you check whether they can offer you that peace of mind in knowing that your money is protected.

What is a Client Money Protection (CMP) Scheme?

A CMP Scheme protects client money held by an agent i.e. rent and in the unlikely event that there were any unprotected deposits. It is important to know that CMP schemes are entirely separate to the statutory Tenancy Deposit Schemes about which you can find more information here

In the unlikely event that an agent was to misappropriate clients’ money and they are part of a CMP scheme, then you can go to that scheme to recover your funds.

SAFE – Safe Agent Fully Endorsed – is a mark denoting firms that protect landlords and tenants money through client money protection schemes.