Client Money Protection
CMP schemes protect client money (such as rent and deposit monies) which is received by agents. Membership of a CMP scheme is a legal requirement from 1st April 2019. Trading Standards will be enforcing this legal obligation.
Did you know? Under current legislation, the Consumer Rights Act 2015* made it a legal requirement for every lettings agent in England to display whether or not they are a member of a Client Money Protection scheme.
We use Money Shield is a Client Money Protection scheme (CMP) available to lettings, estate and property agents across the UK who want to offer greater protection to their clients and comply with legislation. The scheme was set up at the request of TPO to provide cover for TPO businesses who are not members of a professional body. TPO is a 'Not for Profit' organisation and receives no financial benefit from accepted Money Shield applications.