Accreditations and Qualifications

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.

The National Approved Letting Scheme

National Approved Letting Scheme (NALS).

For tenants and landlords alike, the NALS logo means instant peace of mind. NALS is an independent licensing scheme for lettings and management agents.

That means when people see the NALS name, they know that firm has agreed to meet defined standards of customer service, is part of a Client Money Protection Scheme and has a customer complaints procedure offering independent redress.

Any member of NALS has to meet to the following criteria.

• Have in place an insurance policy to pay to rectify mistakes in the unfortunate event that they occur (Professional Indemnity Insurance)
• Have a designated client account with the bank
• Be part of a Client Money Protection Scheme
• Commit to offer services to landlords and tenants meeting NALS Service Standards
• Have a written Customer Complaints Procedure which offers independent redress should any complaint from a landlord or tenant not be re-solved in-house

The Property Ombudsman

The Property Ombudsman (TPO) scheme has been providing consumers and property agents with an alternative dispute resolution service for over 25 years and provides consumers with a free, impartial and independent alternative dispute resolution service.

TPO is a government approved scheme to provide independent redress in relation to disputes between consumers and property agents.

The Ombudsman provides redress, where appropriate, to consumers whose complaints are considered on a case by case basis.

The Ombudsman is not a regulator and does not have the authority to take regulatory or legal action against an agent, impose fines or dictate the way agents conduct their business.

Deposit Protection Service

Deposit Protection Service (DPS)  The requirement to protect a tenancy deposit taken for an assured shorthold tenancy in England and Wales was introduced on 6 April 2007, following its inclusion in the Housing Act 2004. Initially, deposits needed protecting within 14 calendar days of receipt by the landlord. This was subsequently changed to 30 days on 6 April 2012 as a result of the Localism Bill 2011.

Why was it introduced?

The legislation was introduced because the Government recognised many deposits were being unfairly withheld at the end of a tenancy. Introducing Tenancy Deposit Protection was identified as a way to raise standards in the lettings industry and ensure tenants are treated fairly at the end of the tenancy.

The legislation also introduced standards for the way deposit disputes are handled. All TDP providers need to offer a free Alternative Dispute Resolution (ADR) service for occasions where tenants and landlords can’t agree on how much should be deducted from a deposit.

Who does Tenancy Deposit Protection affect?

The legislation covers virtually all new assured shorthold tenancy contracts used by letting agents and landlords to let a property in England and Wales.

There are some exceptions, and in the following scenarios you won’t need to register a deposit with one of our schemes:

• If you’re a resident landlord (i.e. you live in the property)
• If the tenancy has a rental value of over £100,000 a year
• Company lets
• Student accommodation let directly by universities or colleges

Iosh

The Institution of Occupational Safety and Health (IOSH) is the Chartered body for health and safety professionals in the world.

Across the world, two million people die every year as a result of health and safety failures. Therefore IOSH is committed to creating “A world of work which is safe, healthy and sustainable”.