Client Money Protection (CMP)
Your money is in safe hands when letting through Your Move, as we are a member of ARLA propertymark meaning our landlords' and tenants' money is protected through Client Money Protection (CMP).
What is Client Money Protection (CMP)?
The Client Money Protection (CMP) Scheme provides compensation for landlords and tenants when agents misuse or misappropriate their rent, security deposit or any other client funds. Should this happen and a landlord is using a letting agent who is registered with ARLA propertymark, the landlord can make a claim and propertymark will arrange a reimbursement*. Every year, unprotected landlords and tenants lose money when their funds are misappropriated.
As a Your Move landlord, you don’t have to worry.
We are a proud member of ARLA propertymark which means not only is your money protected but we also come with these benefits**:
- Experienced and trained experts who are required to attend regular training
- Our experts are kept up to date with the latest registration changes and lettings best practice
- We adhere to the nationally recognised TPO Code of Practice
To find out more about what it means to be a ARLA:propertymark agent, visit the propertymark website or see their accounting rules.
How do you check if your agent is protecting your money?
- Check that your agent is covered on the propertymark website
- In accordance with the Consumer Rights Act, an agent must display in their office and on their website if they have CMP and who provides it for them.
- ARLA Propertymark suggests you ask your agents questions such as:
- Are you giving tenants all of the documentation required by law at the start of a tenancy?
- How can you protect me and my property in this increasingly litigious world?
- What if the tenant defaults on rent payments and what is your timeline of expectations?
What to do if your letting agent doesn't have CMP?
- Are more likely to avoid void periods as we already have thousands of registered tenants.
- Get their property shown in the best possible light through our unparalleled property marketing.
If you want to know how Your Move can help with your letting needs, find out more about our landlord services.