Client Money protection to be become mandatory for all Letting Agents
Thu 30 Mar 2017
All Letting agents across the country will soon be required to protect rental monies through an approved Client Money Protection (CMP) Scheme, following the recommendations made in a new Government report published this week.
The Housing Minister has now confirmed that agents will be required to protect the client money that they handle. Announcing his decision on twitter, Gavin Barwell MP said that the government will consult on details shortly. At the present moment client money protection is not compulsory for letting agents.
CB Lettings supports this announcement as an important step forward in the protection of landlord and tenant's monies. CB Lettings has held Client Money Protection through the National Approved Lettings Scheme for a number of years. We believe that landlords and tenants should have the peace of mind knowing that their money is protected.
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