Government have today published guidelines for organisations wishing to apply to become Government approved Client Money Protection (CMP) schemes. Once approved, the chosen schemes will administer CMP for letting agents, to protect the client money they hold.
From 1 April 2019 it will be mandatory for all agents to have client money protection in place with an approved scheme. SAFEagent has long campaigned for mandatory client money protection, and this guidance and application process to brings us another step closer to that goal.
John Midgley, Chair of the SAFEagent Steering Group, said:
“We’re nearing the goal of the SAFEagent campaign and this is another step closer to client money protection for all lettings and management agents in England. For those agents who are still not a member of a CMP scheme, it’s time to start getting your client accounting practices in order, to make sure you will be able access a scheme in time for the mandatory deadline of 1 April 2019.”