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May 11
Why is Client Money Protection important for landlords and tenants?
Why is Client Money Protection important for landlords and tenants? CMP is a government scheme protecting client money such as rent or deposit monies received by letting agents. It ensures that landlords and tenants are compensated if an agent cannot repay their money, for example, if an agent goes into administration.
WHY CLIENT MONEY PROTECTION IS IMPORTANT FOR LANDLORDS AND TENANTS?
In today’s financial landscape, protecting client money and assets is a fundamental requirement of an effective compliance program. If a firm fails —whether it be a letting and management company, bank, insurer, or asset manager— customers need to know their money is safe and can easily be repaid without any issues.
Client Money Protection (CMP) is a reimbursement scheme from which landlords and tenants can claim for lost deposits or rent should an agent misappropriate client money. In simple terms, it means your money is protected should an agent unexpectedly go bust or commit theft.
At Wise Rock Property, we abide by the highest transparency, honesty, ethics and customer care standards. Client Money Protection is essential for our clients’ peace of mind and we proudly display our renewed certificate for 2024-2025:
Your property is in the right hands with us!
We look forward to doing a great job on your behalf
Wise Rock Property is CMP registered through Safe Agent
Wise Rock is a member of The Property Ombudsman, a free, independent and impartial service resolving disputes between consumers and estate agents since 1990.
Please call Muriel for a chat on 07341 443 858.
