In England it is a legal requirement from 1st April 2019 that all letting agents and property management companies to be a member of an approved Client Money Protection Scheme
Newboulds & Co, as of 27th February 2019 are a member of CMP http://cmp.projectstatus.co.uk/ an approved Client Money Protection Scheme ensuring our clients money is safeguarded
Who are CMP?
Client Money Protect (CMP) is a government approved Client Money Protection Membership Scheme that protects any money held by our Members on behalf of their clients should the member misappropriate it. The business was formed in 2014 - originally as the UK’s first voluntary client money protection scheme outside of the traditional agent trade body organisations – and is also recognised in Scotland (under the Scotland Lettings Code of Conduct) and in Wales (under Rent Smart (Wales)).
Our aim is to provide the best protection for the clients of our Members, ensuring that that their money is safeguarded whilst in the custody of their agent and returned to them if the worst happens. Our Members are required to display our logo in their shop windows and commit to transparency of client money handling for all their customers. If you do not see our logo on your agent’s website or other promotional literature, we encourage landlords and tenants to ask whether they are a Member of a Client Money Protection Scheme.
If you have any questions regarding this scheme please call Barry Fogg on 01932 232927