What is client money protection?
Client Money Protect (CMP) is a Government-authorised membership scheme for lettings and property agents in the UK to protect the clients’ money such as rents and deposits received by us. At Radcliffe & Rust letting agents Cambridge we have a CMP membership which means you can rest assured that your money is protected, and we are compliant with the current legislation.
It is a legal requirement for letting agents to join a client money protection scheme for the benefit of their clients, typically landlords and tenants, to safeguard money they hold on their clients’ behalf. In the event that the owners of the business misappropriate any of this money, landlords and tenants can contact CMP and make a compensation claim against the agent. If a genuine claim is accepted, CMP we will recompense the landlord and/or tenant and seek recovery from the letting agent or its owners.
Please our downloadable CMP certificate below: