SAFEagent is calling on the Government to ensure that plans to make Client Money Protection mandatory for letting agents do not fall by the wayside, following the recently announced commitment to regulate the lettings and management industry.
The campaign group has written to housing minister Alok Sharma to ask him to move forward with the plans.
John Midgley, chair of the SAFEagent steering group said: “Since we launched SAFEagent in 2011, we’ve been raising awareness among consumers that any agents they engage with should be part of a CMP scheme.
“This is a really important part of protecting tenants and landlords.
“We welcome the Government’s announcement that it intends to introduce regulation to the lettings and management sector. But this move shouldn’t be to the detriment of the good work it’s done moving towards mandatory CMP.
“While most agents run good, professional businesses, there are still instances where rogue agents misappropriate clients’ funds.
“If they are not part of a CMP scheme, there is no recourse for those clients.
“Therefore, we’re urging the Government to move forward with the consultation on the implementation and enforcement of CMP at the earliest opportunity.”
In March this year, compulsory CMP was recommended for all letting agents in England, with an enabling amendment due to be added to the Housing and Planning Act.
However, very little has been heard of the move since.
Comments are closed.