Toggle menu


jezzards property search
03330 433 633
Lines open 24 hours

Client Money Protection Scheme: You Can Rely On Us

  07 Jul 2018

The matter of money is integral to tenants and landlords’ daily activities, and it is always better to be protected when it comes to payments and money being held as a deposit. If you haven’t heard of The Client Money Protection (or CMP) scheme, or you have but you are not sure why it is important, Jezzards are happy to provide you with insight into why this is positive news for tenants and landlords.

CMP is a scheme which provides compensation to landlords and tenants if an agent misappropriates client funds, the deposit or the rental fee. All ARLA Propertymark members are required to have a CMP in place, and at Jezzards, we are pleased to say that we comply with this.

One of the biggest issues in the market relates to rental fees lying unprotected while being held in the custody of the agent. It is not uncommon for rental fees to be held by the agent for five to seven days before the money is passed to the landlord. However, during the consultation period, the working group was informed that rent is often held for a much longer period. Evidence was provided that foreign students were required to provide a years’ worth of rent in advance.

There is also the fact that fraud, while not being overly common in this sector, can happen.

Changes are coming with respect to agents and CMP

The bill that is currently being debated in Parliament will require agents who manage rental property in England to be a member of an approved CMP scheme. This must be achieved by the 1st of April 2019. There are severe punishments which can be imposed on agents who don’t comply with this regulation. Local authorities will be provided with the powers to:

  • Impose a fine of up to £30,000 on agents who are not members of the scheme after the 1st of April 2019
  • Impose a fine of up to £5,000 on agents who do not display their correct scheme membership details, and this includes on their website or business premises

While some observers may believe that these fines are excessive, there is no denying the importance of managing client money in the correct manner. It is believed that over £2.7 billion in funds is held by letting agents at any time. This money includes rental fees and money that is used to undertake repair and maintenance work at properties. Of this £2.7 billion, it is believed that £700 million isn’t protected. This means if an agent goes bust or they abscond with the money, landlords and tenants are vulnerable.

CMP offers vital protection for people that need it most

Not many landlords or tenants could afford to lose out on the money associated with their account, which makes the need for protection essential. There have been moves to offer support and since May of 2015, agents have been required to state whether they belong to a CMP scheme. This measure was welcomed because it allowed landlords to select an agent knowing if they were a member of a scheme or not, but this feature wasn’t afforded to tenants. Therefore, the recent developments regarding CMP are pleasing because it will enable tenants to make a more informed decision regarding their rental options.

As of April, of next year, agents who don’t hold membership of such a scheme will be liable for the large fines stated above, which means that an added level of protection will be afforded to tenants and their money.

We are pleased to say that we have provided a reliable Client Money Protection scheme since we started. This means if you are worried about this scheme, you can rely on Jezzards to protect you and your tenants. If you’re a landlord and you are worried about the latest or forthcoming regulations, and you want peace of mind, come and speak with local letting market specialists on 03330 433 633.


Jezzards Estate Agents



Jezzards properties Hampton

What our clients say about us

  • " Rated high with very good reason. Great customer service, pricing thoroughly researched for both buyer and same, no hard sale, professionalism from all members of staff exceptionally high, as was the photographer who took photographs of my property. I felt I could trust them, Victoria listened to personal concerns and was able to assuage fears drawing on years of personal experience. Quick to respond to queries on different communication platforms. They are a team to be strongly recommended. Sales team are extremely respectful, and were keen to find out as much about my property as they could. "

    Anne, Hampton October 2019
  • " I've dealt with some horrible agencies whilst renting in the past but I am glad we had Jezzards as our last. Didn't know that someone so professional and understanding and true to it's word existed in the business. I locked myself out once and they were there in  20 mins to assist. Heating stopped in the night and their out of hours assistance helped sort us out. Any problems or issues, were very promptly and effectively dealt with...I didn't even have to chase them. Our exit was quick, refunds took some time due to overlooked issues, which Victoria Jezzard looked into personally, and all done in 3 days. Dorathy was our handler and she was ace!! "

    Lorraine September 2019
  • " Gary Watson was our first point of contact. He reached out to us quickly and did everything he could to make sure things were dealt with smoothly- which we really appreciated. Since then every dealing with Jezzards has been efficient and no fuss- great. "

    Anonymous September 2019
  • " Jezzards give me peace of mind and support knowing that keeping my tenants happy and comfortable. In particular, their property management team (specifically, Dorothy) are always so open, clear, kind and accessible. I think they offer great value for money and I thoroughly recommend them. "

    Astan August 2019
  • " Everybody at Jezzards Estate Agents, Surbiton was very patient and sympathetic to our needs as non-residents looking to buy in a completely new area. We were provided with maps and advised on the layout of the town and nearby areas. We would particularly like to thank Gaj Murali for showing us round various properties in the pouring rain and taking a personal interest in helping us find the right property. Thank you Gaj. "

    Anonymous August 2019