06June
2016
Safe Agent Week 6th-10th June 2016
We are supporting Safe Agent week – What is it?
It’s a legal requirement
From 27 May 2015, under the requirements set out in the Consumer Rights Act, it became compulsory for all agents to display in their offices and on their websites whether or not they are part of a Client Money Protection Scheme.
By choosing to register with the SAFEagent campaign we are associating with other likeminded agents who want to offer consumers the financial protection they deserve as well as peace of mind through knowing that their money is protected through a CMP scheme.
Landlords and tenants….
SAFE (SAFE Agent Fully Endorsed) is a mark which denotes that your lettings and management agent is part of a Client Money Protection Scheme which will protect your money in the event that anything should happen to it.
Landlords and tenants often make decisions based on cost but it is important to ensure you ask your agent for details of the organisation they are regulated by and whether or not they are covered by a Client Money Protection Scheme. All agents who are part of ARLA/NAEA, the Law Society, NALS, RICS and UKALA maintain and operate separate designated client accounts where your money is held completely separate from the operating funds of the firm. Ask your agent if they are part of a CMP scheme or not. They must display this information in their office and on their website.
Important Note…
Client Money Protection (CMP) is separate to statutory deposit protection. As a tenant it is important that you find out from your agent where your deposit is protected if they are dealing with this. You should then verify with the relevant deposit scheme that the deposit is protected properly. If the landlord is handling the deposit protection be sure you find out this information from your landlord.
For more information on deposit protection please visit:
www.gov.uk.
You will also find the Government’s How to Rent guide a helpful document if you are renting click here
