Client Money Protect

We are pleased to announce that Student Haus is now member of Client Money protect to offer landlords & tenants even greater peace of mind. 

What is a Client Money Protection Scheme? 
It is good practice for letting agents to join a Client Money Protection Scheme for the benefit of their clients, typically tenants and landlords, in order to safeguard money they hold on their clients` behalf.  In the event that the owners of the business steal or misappropriate any of this money there is a route of redress by contacting the Scheme and claiming against the Scheme.  
What are the CMP ‘standards` that a member letting agent must adhere to? 
It is a requirement of members of CMP that:

  • They hold client monies in a designated segregated client money account at all times that is separate from their own monies;
  • They maintain professional indemnity insurance in accordance with the CMP minimum PI requirements;
  • They maintain membership of a recognised consumer redress scheme.

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