Client Money Protection
Your money is in safe hands when letting through Property Link, as we are a member of ARLA propertymark. This means our landlords' and tenants' money is protected through Client Money Protection (CMP).
What is Client Money Protection (CMP)?
The Client Money Protection (CMP) Scheme provides compensation for landlords and tenants when agents misuse or misappropriate their rent, security deposit or any other client funds.
Should this happen and a landlord is using a letting agent who is registered with ARLA propertymark, the landlord can make a claim and propertymark will arrange a reimbursement.
Every year, unprotected landlords and tenants lose money when their funds are misappropriated.
As a Property Link landlord, you don’t have to worry.
We are a proud member of ARLA propertymark which means not only is your money protected but we also come with these benefits:
- Experienced and trained experts who are required to attend regular training
- Our experts are kept up to date with the latest registration changes and lettings best practice
- We adhere to the nationally recognised TPO Code of Practice
To find out more about what it means to be a ARLA:propertymark agent, visit the propertymark website or see their accounting rules.
How to check if your agent is protecting your money.
It is estimated that 40% of letting agents aren’t protected. You should always double check that your agent has CMP and is registered with propertymark.
1. Check that your agent is covered on the propertymark website
2. In accordance with the Consumer Rights Act, an agent must display in their office and on their website if they have CMP and who provides it for them. In the same way, an agent must disclose if they have no CMP cover.
3. ARLA Propertymark suggests you ask your agents questions such as:
• Are you giving tenants all of the documentation required by law at the start of a tenancy?
• How can you protect me and my property in this increasingly litigious world?
• What if the tenant defaults on rent payments and what is your timeline of expectations?
What to do if your letting agent doesn't have CMP?
Talk to Property Link, we protect our landlords’ money.
Property Link landlords:
- Are more likely to avoid void periods as we already have thousands of registered tenants.
- Have direct access to all their lettings information through our dedicated team
- Get their property shown in the best possible light through our unparalleled property marketing.
Find out more on Propertymark Conduct and Membership Rules and Client Money handling: https://www.propertymark.co.uk/media/1045366/conduct-and-membership-rules.pdf
If you want to know how Property Link can help with your letting needs, you can find out more about our landlord services by getting in touch with us by email: info@propertylinkuk.com or phone: 020 8471 8471.
Quick Search
