With effect from 1st April 2019 all letting agents must be in a regulated Client Money Protection (CMP) scheme.
We at Sheldon Bosley Knight have been regulated and in a CMP for many years via the Royal Institute of Chartered Surveyors (RICS) who require us to hold out the highest standards when it comes to handling your money. In fact, we are delighted to say that one of our companies was awarded a rating of “Outstanding” in 2017.
From 1st April 2019 all agents must:
- Belong to a Government approved CMP scheme
- Display a certificate confirming this
- Provide clients with the name and address of the scheme of which they are a member
This is not new to us so we do not need to make any changes, although there are many in our industry who will have to catch up. However, if you have any questions please contact us and we will be happy to advise you.
The Housing Act 2004 requires landlords and letting agents to protect deposits in a scheme such as The Tenancy Deposit Scheme (TDS), of which Sheldon Bosley are members.
The TDS provides government approved deposit protection with free, impartial dispute resolution. Sheldon Bosley are also a member of the Surveyors Ombudsman Service independent redress scheme.
In addition to being RICS (Royal Institution of Chartered Surveyors) members, we are a company member of ARLA (Association of Residential Lettings Agents). They require that all members are qualified professionals and must follow a strict code of conduct.
Client Money Protection (CMP) provided by RICS is a compensation scheme run by the National Federation of Property Professionals (NFoPP) which provides compensation to landlords, tenants and other clients should an agent misappropriate their rent, deposit or other client funds.
For advice on any aspect of becoming a landlord client, please feel free to contact either our Stratford lettings team on 01789 292310 or Shipston on 01608 661666.