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Posted on November 25th 2015 by admin-movingin

Calls mount for ministers to make Client Money Protection mandatory for agents

Pressure is mounting on the Government to make Client Money Protection a mandatory requirement for all letting agents.

It is widely considered to be one of the single biggest – and simplest – reforms that the private rented sector needs.

SAFEagent has repeated its call for compulsory CMP, asking the Government to include a proposed amendment tabled by ARLA boss David Cox.

The amendment would add to the Housing and Planning Bill, currently going through Parliament.

The SAFEagent campaign, launched in 2011, has over 3,000 offices signed up, working to raise consumer awareness among landlords and tenants of the need to ensure they use agents who have CMP.

John Midgley, SAFEagent chair, said: “We welcome the positive action the Government is taking to deal with rogue landlords and agents. Mandatory membership of a redress scheme for all agents was a step in the right direction but consumers get no recompense through those schemes if an agent misappropriates their money.

“Only by introducing a mandatory requirement for all agents to be included under a CMP scheme can the consumer be afforded that protection.

“It is great that the industry is now pulling together to protect consumers – something that the SAFEagent steering group has advocated since the start of its campaign.

“We hope to build on this goodwill for other consumer protection initiatives which we are planning.”

Midgley has written to housing minister Brandon Lewis expressing his views.