All agents managing lettings in England are required to belong to an approved Client Money Protection (CMP) Scheme.
Client Money Protection (CMP) Schemes provide compensation to landlords, tenants and other clients should an agent misappropriate their rent, deposit or other client funds.
The legislation states that agents must:
- Belong to a Government approved CMP scheme.
- Display a certificate that confirms the agent’s membership to an approved CMP scheme.
- Produce a copy of the certificate to anyone who reasonably requires it, free of charge.
- Notify all clients with the name and address of the scheme to which they are a member of.
- Regulations also state that the agent must ensure the level of CMP membership provides sufficient cover to compensate clients for the maximum amount of client money that they can hold.
Meller Braggins are members of a CMP scheme, download a copy of our Client Money Protection Certificate.
Please get in touch with us if you have any questions.