From the 6-10 June, letting agents and organisations from across the UK will come together in support of SAFEagent Awareness Week. SAFEagent was set up “by the industry, for the industry” to protect landlords’ and tenants’ money. As a company that is committed to protecting tenants’ deposits, we’re fully behind it.
Throughout the week, SAFEagent will highlight the importance of choosing a letting agent that is part of a Client Money Protection (CMP) Scheme. In an industry that’s estimated to be worth £2.7 billion, it’s vital that our customers’ deposits are safe. There are still too many cases where tenants are losing money to rogue agents.
John Midgley, Chair of the SAFEagent Steering Group, says:
“Choosing a letting agent without CMP in place is a massive risk for both landlords and tenants. Who can afford to lose thousands of pounds? We might finally be getting closer to mandatory CMP but we aren’t there yet. It is so important that consumers understand that they need to choose their agent wisely by asking if they are part of a CMP scheme before entering into a contract with them.”
While it’s not mandatory to protect client money in a CMP, it is now firmly on the Government’s agenda. It’s definitely a step in the right direction and one that is supported by many organisations in the housing industry, including us.
We’d like to encourage all letting agents to become members of SAFEagent. The blue and black SAFEagent ‘mark’ gives tenants and landlords the peace of mind that their money is protected.