Latest News

How to win the battle for Google on the High Street

21 May 2019

Founder of Emarketeers and search marketing expert, Jonathan Saipe wrote an article for Propertymark Professional where he shares the top-tips for High Street businesses in order to stand out and be seen on Google. Read More...

Success - are you nurturing it?

21 May 2019

More and more companies are taking the plunge and employing apprentices and, with 77 per cent of employers believing that apprentices make their business more competitive, it is easy to see why. Read More...

Fighting cyber crime

21 May 2019

Estate agents need to adapt to the ever present and increasing threat that comes from unscrupulous hackers and online criminals. Read More...

Propertymark's Client Money Protection Scheme Secures Government Approval

Wednesday 27 February 2019

Propertymark has received formal Approval from the Housing Minister, Heather Wheeler MP, to operate a Government-authorised Client Money Protection (CMP) Scheme. The Government has committed to requiring all property agents in the private rented sector to obtain membership of an approved CMP scheme by 1st April 2019 and the many thousands of Propertymark Protected members will now be covered.

Following Propertymark’s successful campaign, spearheaded in Parliament by Baroness Hayter of Kentish Town, and supported by 30 organisations including Propertymark member agents, the other professional bodies for letting agents, tenant groups and landlord bodies as well as both trade and national media titles, the Government ruled in favour of mandating CMP for all letting agents in England. When the legislation comes into force on 1st April, all agents will need to have joined an Approved CMP scheme or will be operating illegally.

David Cox, Chief Executive, ARLA Propertymark said: “CMP has always been mandatory for Propertymark members, but when it becomes a requirement on 1st April, all letting agents will be operating on a level playing field and consumers will be protected regardless of which agent they choose. This is a triumph for the industry, and will go a long way towards improving the regulatory environment in the lettings sector and increasing protection for consumers who rely on agents to handle their money safely. Having worked closely with MHCLG to get this into law, we’re really pleased that our scheme has secured formal Government Approval.”

Information for Consumers

Client Money Protection (CMP) is a compensation scheme which recompenses landlords and tenants should an agent misappropriate their rent, deposit or other client funds. Client Money Protection (CMP) is compulsory for our members so if a Propertymark Protected agent has misappropriated your rent, deposit or other client money you can apply for reimbursement through the CMP scheme. Download our leaflet for more information on Client Money Protection (CMP).

Propertymark is raising standards in the property industry, giving you the peace of mind that comes with Propertymark Protection. If your agent is Propertymark Protected and you believe that they have misappropriated your money, contact Propertymark to make a claim. 

Details of the scheme

Propertymark will reimburse landlords and tenants who are out of pocket up to £15 million per year if their agent is within Propertymark's Main Scheme or £35 million per year if their agent is within Propertymark's Large corporate Scheme with a maximum award of £50,000 per individual claim.

Unfortunately, we cannot make payments for any loss arising from war (whether foreign or civil), terrorism, rebellion, revolution, military uprising or any form of confiscation by the state.