We are delighted to announce that NALS has received Government approval as a recognised Client Money Protection (CMP) Scheme operator.
NALS has already been providing a Client Money Protection Scheme for its agents for over fifteen years. It has always been a key cornerstone of being NALS accredited to have CMP as a consumer protection measure.
The Government stamp of approval means NALS can continue to offer agents inclusion under its CMP scheme, while ensuring landlord and tenants’ money is fully protected.
NALS spearheaded the campaign to make belonging to a CMP scheme a mandatory requirement through its support for the SAFEagent campaign.
Isobel Thomson, Chief Executive of NALS, said
“We’re delighted to have been approved. NALS is a tried and tested CMP scheme, and this means we’re able to continue our work in ensuring a safer private rented sector for consumers.
“While it’s great news that CMP will become a legal requirement from 1 April, it is only one of the elements that make up a professional lettings and management firm. We don’t believe that being part of a CMP scheme should just be a case of buying an off the shelf product to comply with the Regulations.
“Any agent coming under our CMP scheme will have to be part of NALS so we can ensure consumers are obtaining the best possible service in all areas and high standards are maintained.”