Does your agent have Client Protection Money?

Lettings Agents have been required since May 2015 to be transparent regarding their fees, details of the redress scheme that they belong to and if they are a member of a Client Money Protection (CMP) scheme. 

Agents need to display information in their offices and on their website under the Consumer Rights Act 2015.

It is not a mandatory requirement that an agent has CMP. However it is a legal requirement to display and make clear to consumers whether you have joined a CMP scheme or not.

If an agent doesn’t display their fees, join a government authorised redress scheme or state whether or not they have or haven’t got CMP. Agents can be subject to a £5,000 fine which can be enforced by the local enforcement authorities and further action can be taken if they continue to breach their legal requirements.