As of 1 April, 2019 all letting agents in England are required to protect their client's monies (rent, deposits etc) with a Client Money Protection Scheme (CMP). CMP cover is available through several schemes that have been approved by the Ministry of Housing Communities and Local Government.
Unfortunately, there are many instances where unregulated and unprotected agents have misappropriated client monies and disappeared into the sunset, leaving a devastating trail of debt to landlords and tenants alike
Thankfully, government legislation and the new power of enforcement by local trading standards officers means that all agents must display which CMP scheme they belong to, or face a fine of up to £5,000.
The advice to clients is to always find out which CMP scheme their agent belongs to. It could be the best question you'll ask this year?
Anderson's CMP scheme is provided by ARLA (Association of Residential Letting Agents). Our certificate of registration is available in our showroom and at the footer of this page. As one of Leicester's leading letting agents we continue to be regulated by ARLA and are members of the Property Ombudsman Scheme.