Seven agents expelled from The Property Ombudsman
As per the strict processes put in place by The Property Ombudsman (TPO), the agents were referred to the TPO’s independent Compliance Committee, which ruled they should be expelled with most failing to pay compensatory rewards.
Fine underlines importance of having CMP
Propertymark received a report that a letting agent in Kensington and Chelsea has been issued a fine of £20,000 for not belonging to a Client Money Protection scheme, despite applying to join one. The case underlines the importance of having Client Money Protection (CMP), with Trading standards taking action even when an application is in progress.
Propertymark pressure leads to improved guidance on Pooled Client Accounts
We welcome improved Joint Money Laundering Steering Group (JMLSG) guidance on Pooled Client Accounts (PCAs) following our response to their review and sustained engagement with HM Treasury and UK Finance to make it easier for letting agents to meet their legal obligations.
Lettings leaflet pack
Download and add your logo and contact details to our leaflets, print them in your office or email them to your clients. Showcase your commitment to providing better professional service by going the extra lengths to educate landlords and tenants.
Lettings boss jailed and sanctioned after £230,000 fraud
The director of a Southampton lettings firm has been jailed after defrauding landlords and tenants out of more than £230,000.
The Property Ombudsman issues revised Codes of Practice
On 1 June, The Property Ombudsman (TPO) scheme’s updated Codes of Practice will become effective. The revisions are substantial and incorporate the Tenant Fees Act, Client Money Protection and GDPR requirements.
CMP becomes a legal requirement in England
Membership of a Government Approved Client Money Protection (CMP) scheme becomes a legal requirement for all agents in England dealing with residential lettings across England from Monday 1 April.
Agents complying with Client Money Protection in England
All agents in England whose business covers lettings and property management whereby you hold client money, must belong to a government-approved Client Money Protection scheme from 1 April 2019.
Fact sheet: Client Money Protection for letting and managing agents
The Housing and Planning Act 2016 enables the Secretary of State to require that letting and property agents in England belong to a government-approved Client Money Protection scheme.
Propertymark's Client Money Protection scheme secures Government approval
Propertymark has received formal approval from the Housing Minister, Heather Wheeler MP, to operate a Government-authorised Client Money Protection (CMP) Scheme.
Mandatory Client Money Protection Schemes for Property Agents
We have issued our response to the Government consultation on mandatory CMP giving our views and comments on how the rules should be designed, implemented and enforced.
Fact sheet: The Letting Agent Code of Practice (Scotland) Regulations 2016
The Housing (Scotland) Act gives powers to the Scottish Government to create a Code of Practice and introduces new rules, which all letting agents must follow. Read this fact sheet to see how the code of practice affects you.
