This week, (May 15th 2017), thousands of letting agents will be taking part in SAFEagent Awareness Week 2017. Agents taking part in the event – which is now in its sixth year – will highlight to consumers the importance of working with a firm that offers Client Money Protection (CMP).
Earlier this year industry campaigners were boosted by the news that the government intends to make CMP mandatory for all letting agents. SAFEagent - the mark that denotes firms hold consumers' money with a CMP scheme – says that while the campaign has finally achieved its goal, mandatory CMP is still not law and some consumers could still be at risk. “SAFEagents have campaigned hard for consumer protection – and the government has finally taken on board our calls for all agents to be part of a Client Money Protection Scheme.
This is fantastic news, but unfortunately, the law isn’t in place yet," says John Midgley, chair of the SAFEagent Steering Group. “Choosing a letting agent without CMP in place therefore remains a massive risk for both landlords and tenants. We’ll continue to campaign, raising awareness among consumers of the importance of only using an agent with CMP.”