More than 3,000 letting agents across the UK are uniting for SAFEagent awareness week.
There is an estimated £2.7 billion being held by letting agents in client accounts, but unfortunately there are still too many cases of criminal letting agents stealing landlord and tenant cash.
SAFEagent campaigns for full and mandatory Client Money Protection (CMP) – which reimburses landlords and tenants in the event of misappropriation of funds. While mandatory CMP is firmly on the government’s agenda with amendments to the Housing and Planning Act, it has still not been passed in law, leaving many consumers still at risk.
The SAFEagent mark – recognised by the Government – identifies firms that protect landlords’ and tenants’ cash through CMP schemes, and throughout this week landlords are being reminded that their finances are at risk if their chosen agent does not have CMP in place.
For more information visit www.safeagents.co.uk