Client Money Protection (CMP)
When choosing to rent through Geoff Foots our customers can relax knowing their money is in safe hands as we have it protected* via the Money Shield Client Money Protection Scheme.
* Subject to schemes limit. There is a £50,000 individual claim limit and an annual aggregate limit. See www.money-shield.co.uk for further details and exclusions.
What is Client Money Protection (CMP)?
Money Shield’s Client Money Protection Scheme provides compensation for landlords and tenants if their letting agent is a member of Money shield and misuses or misappropriates client funds or if their agent goes into administration/liquidation. Client money covers a range of different areas including but not limited to rent, security deposits and funds on account for maintenance work. By law every letting agency is required to have Client Money Protection and should be able to provide information upon request, free of charge, on who supplies their protection. They should also display a certificate in both their office and on their website detailing information of the CMP they have in place. One of the first things you should check when selecting an agent is that they do in fact have client money protection, because if they do not you should start to think why, and if they are happy to cut this corner what else are they cutting corners on?