29^th August 2016

Client Money Protection - We Support This.

The Government is currently consulting on how Client Money Protection operates in the Private Rental Sector and whether it should be made mandatory for Letting Agents and Property Management Companies. Client Money Protection (CMP) relates to the safeguarding of any monies held by an Agent that is not their own, such as rent or tenancy deposits and provides protection for clients in the event that an Agent goes in to administration or misappropriates funds held. A number of schemes currently exist and are administered through various organisations and we fully support the requirement for all agents to sign up to a scheme. It could be argued that any responsible agent would do so as a matter of good practice, however if legislation is necessary to enforce membership then we back this wholeheartedly. As a member of NALS (The National Approved Letting Scheme) we are contributing members to the scheme run by this organisation and are pleased to be able to provide this assurance to our clients. If your Cambridge agent isn't signed up to a CMP scheme, its probably time to change and we are always happy to assist those Landlords looking for a more discerning service provider.