Client Money Protection (CMP) Scheme

CMP is a scheme that reimburses landlords and tenants should a letting agent misappropriate their rent, deposit or other client funds. It has long been a requirement for ARLA Propertymark members to have CMP and has been a legal requirement for all letting agents since 1 April 2019.

CMP is mandatory for every company that acts as an agency in property (including chattels auctioning) which handles client money or uses a third party to oversee client money. If this is the case, to become a member, Principals, Partners and Directors (PPDs) have to take out CMP with Propertymark unless they have CMP with Money Shield, RICS or the Law Society of Scotland.

How do I get CMP with Propertymark?

As part of your registration process for Propertymark Membership we will require you to submit your Accountant’s report or Letting Partnership ‘Health Check’ upon completion you will be enrolled onto our CMP scheme. Find out more about becoming a member  →

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How much does CMP cost?

Fantastic news! 2024 fees are being held at the 2023 prices. Read the full announcement...

The standard levy is £410 and you will need to renew annuallyHowever, the final payable levy will depend on the amount of 'other client funds' held in your client account. Upon receipt of the Accountant’s Report or The Letting Partnership's 'HealthCheck', we will determine the applicable levy as covered in the table below and send you an invoice.

Balance of other client funds at last Accountant’s Report CMP Levy
Under £500,000 £410
£500,000 – £1 million £1,085
£1 million – £3 million £2,055

If you hold more than £3 million in total ‘other client funds’, please contact the Membership Documents team or login to the website as a member and revisit this page for more information.

'Other client funds' means all the money held in your client account except for tenancy deposits protected by a Government-authorised tenancy deposit protection scheme. 
Client Money Protection FAQs

Need an alternative to Propertymark CMP?

Money Shield

Money Shield is administered by Propertymark giving you an alternate route to comply with the legal obligation to hold CMP.

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