LANDLORDS and tenants are once again being reminded to only use an agent that has a Client Money Protection Scheme in place to protect the rent and deposits they handle.
The reminder comes as part of Propertymark Awareness Week, a national campaign to highlight the importance of Client Money Protection Schemes, which runs from May 13-18.
Belvoir Dunstable became members of Propertymark when they opened as another way in which it can convey its high standards of practice to landlords and tenants.
Belvoir Dunstable director, Daniel Bourke, says: “Landlords and tenants should always look for the Propertymark logo when choosing an agent for the assurance that their money will be protected. Letting agents are not formally regulated by the government and not all have Client Money Protection in place, despite handling many thousands of pounds in client money.”
However, Belvoir Dunstable argue that landlords and tenants should also look for more than just client money protection when choosing an agent. Experience, industry qualifications and knowledge of the complex legislation surrounding letting are all essential to delivering a high quality service.
Daniel says: “Being a Propertymark does not in itself guarantee an agent will provide a good service. Using an incompetent agent can have serious consequences for landlords, including huge legal expenses, loss of rent, financial penalties and even custodial sentences for not complying with legislation.
“For tenants it can literally be a matter of life and death if legislation regarding the safety of the property and its contents is not complied with, for example gas, electrical and fire safety regulations.
