Landlords and tenants - is your money safe?

What does SAFEagent mean for you?  Here are the key facts:

-SAFEagent is an easily identifiable logo and campaign signposting letting agents which are subscribed to a CMP Scheme.  This means that if an agent closes or absconds with client funds, landlords’ and tenants’ monies will be safeguarded.

-Only letting agents which are members of professional bodies such as the National Approved Letting Scheme (NALS), Royal Institution of Chartered Surveyors (RICS) or the Association of Residential Letting Agents can join.

-The Government is a firm supporter of SAFEagent, praising the campaign as a key way of promoting consumer awareness of client money protection schemes.

-SAFEagent also has the support of major consumer groups including Citizens Advice Bureau,  Shelter, Ombudsman Services: The Property Ombudsman, DPS, TDS, My Deposits and Trading Standards Institute have all allied themselves to the campaign.  Key suppliers to the sector are also standing behind the campaign – for example, HomeLet, Imfuna and CFP Software have led the way in pledging their backing to it.

-SAFEagent is a voluntary scheme – so you know that your ‘SAFE agent’ is committed to going that extra mile in terms of professional standards and financial protection.

Glynis Frew, Lettings Director for Hunters says: “We have seen the financial nightmare it causes landlords and the distress to tenants when letting agents close without necessary financial protection having been put in place.  We are proud that we take every measure to protect our clients’ funds and working with SAFEagent underlines our ongoing commitment to professionalism and industry standards. By choosing a SAFEagent you can be certain that the letting agent is part of a CMP scheme underpinned by criteria that will ensure that your finances are safe no matter what.”