With the withdrawal of a clause in the Housing and Planning Bill requiring all agents to belong to a Client Money Protection (CMP) Scheme an opportunity has been lost to deliver this important consumer protection measure for consumers.
John Midgley, SAFEagent Chair said: The reason given by the Minister is that he wants “to have a strong and thriving private rented sector that is not tied up in excessive regulation”.
The Government has already legislated to ensure that agents publicly display whether or not they are part of a Scheme and whilst this was a positive measure, we question what this has achieved in respect of consumer protection as there is little resource to police it. Requiring mandatory CMP would protect the consumer and would go much further towards achieving the Minister’s original aim.
SAFEagent will continue to campaign for mandatory inclusion for all agents under a CMP scheme and calls upon agents to sign up at www.safeagents.co.uk“.