Compliance

As award winning Letting and Estate Agents in Cambridge, we are keen to promote the highest standards of service and value throughout our business.

In April 2019 the Government introduced a formal requirement for all letting agents to subscribe to one of the newly approved Client Money Protection Schemes (CMPs).

Having been front runners in the push for mandatory CMP, Safeagent has become one the approved schemes. We are proud to be members of this scheme which provides confidence to landlords and tenants, not only that their funds are protected, but we are signed up to the stringent requirements of this industry leading scheme.

https://www.safeagents.co.uk

All estate and letting agents are also required to maintain membership of an approved redress scheme, giving independent access to service users in the event of things going wrong. We are members of the Property Ombudsman Scheme (TPOS).

https://www.tpos.co.uk

Anyone who engages in estate agency work must comply with the AML Regulations. HMRC supervise estate agency businesses under these Regulations. A business must not carry on estate agency business unless they are registered with HMRC.

The Regulations define ‘estate agent’ as a firm or sole practitioner, who or whose employees carry out estate agency work (within the meaning given by section 1 of the Estate Agents Act 1979). The Office of Fair Trading confirmed a business qualifies as an estate agent under the act, if it meets either of the requirements listed in sections 1a or 1b, it does not have to meet both. Since 1st October 2012, the definition has included estate agents based in the UK who deal with overseas property, either exclusively or alongside other property services. It can also cover estate agency businesses based abroad if they are doing business within the UK.

Award Property Management Ltd are registered with HMRC under their AML Supervision scheme and our registration number is: XAML00000153468

https://www.gov.uk/anti-money-laundering-registration

Since 2007, there has been a requirement for all tenancy deposits taken by landlords or agents to be protected in one of three Deposit Protection Schemes. Not only do these schemes provide protection for tenants over the holding of any deposit taken, they also carry obligations in dealing with the return of deposits at the end of a tenancy.

Award Property Management Limited are members of The Tenancy Deposit Scheme administered by TDS.

https://www.tenancydepositscheme.com

We are acutely aware of the responsibilities we hold in relation to the management and protection of personal data. In our business we hold a significant amount of information in relation to our clients and operation and we have robust policies for ensuring compliance in this respect. We are holders of Tier 1 registration with the Information Commissioners Office (ICO).

https://ico.org.uk/ESDWebPages/Entry/ZA104027