Landlords who choose letting agents registered with ARLA Propertymark can be confident that their money is safe. Under the Client Money Protection scheme (CMP), all money is kept in a designated client account and these accounts are subject to annual, independent inspections.
In the unlikely event that your agent does misappropriate funds, the CMP scheme will compensate both tenants and landlords.* Every year landlords lose millions of pounds through dealing with agents who are not ARLA Propertymark members.
ARLA Propertymark is the UK’s foremost professional body for letting agents and all members are required to adhere to a strict code of professional practice, as well as following relevant guidance.
Make sure your money is protected. #LOOKFORTHELOGO
Three things you needs to know about Client Money Protection (CMP)
1. CMP protects landlords and tenants money - Should a Propertymark Protected agent go bust or misuse your rent, deposit or other funds, Propertymark will reimburse you*
2. Always double check your agent has CMP - Check that your agent is covered at Propertymark.co.uk
3. You do not have to prove fraud - you only need to provide support evidence that you have not received the money you were legally entitled to. You will need to provide the tenancy agreement or deposit protection certificate along with bank statements.
Note to tenants: CMP does not cover dispute over the return of deposit.
Peace of mind
Every year, unprotected landlords and tenants lose money when funds are misappropriated. The best way to ensure money is to always choose an agent who is a member of ARLA Propertymark. ARLA Propertymark is raising standards in the property industry, giving you the peace of mind that comes with Propertymark Protection.
“Client Money Protection is fundamental for tenants and landlords, ensuring that their money is protected even if the worst happens: the agent goes bust or runs off.” - David Cox ARLA Properymark Chief Executive
* Subject to scheme rules