Client Money Protection

On 4 March 2019 the Government passed The Client Money Protection Schemes for Property Agents (Requirement to Belong to a Scheme etc.)Regulations 2019.

WHAT IS CLIENT MONEY PROTECTION

Client Money Protection is a compensation scheme which reimburses both the landlord and the tenants if an agent goes bust or misuses client money (loss, theft, misappropriation).

Client Money Includes:

  • Rent
  • Unprotected Deposits
  • Money held for Repairs and Maintenance

APPROVED SCHEMES

Government approved Client Money Protection schemes for letting and property management agents in the private rented sector include:

Property Mark

MoneyShield

UKALA Client Money protection

Safe Agent

Client Money Protect

MEMBERSHIP

Spire Vue Lettings holds Client Money protection with Money Shield. 

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