Client Money Protection Law comes into force on 1 April 2019
On 1 April 2019 it will be compulsory for all lettings agents in England to be members of a government approved Client Money Protection scheme.
Under the new legislation monies held by lettings agents on behalf of their clients ( for example rents received from tenants) will have to be insured. This is good news for landlords and tenants alike and should prevent the rise of rogue agencies absconding with clients’ money. Landlords and tenants are advised to always ensure that the agents they choose are members of an approved Client Money Protection scheme.
Our partner estate and lettings agency, Boococks, is wholly owned by Wilkinson Woodward and, as such, clients’ monies are protected by The Solicitors Regulation Authority.
For more information contact the Lettings team at Boococks on 01422 386376.
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.