Peace of Mind for All, thanks to Client Money Protect

Here at James Neave the Estate Agent, we are committed to protecting our clients at all times, and that’s why we are proud to have become members of Client Money Protect (CMP), a scheme that has been designed to give more security to landlords and tenants in the UK.

We all know how important it is to have peace of mind, especially when we enter into long-term financial commitments. There are so many boxes to be ticked before a new tenant takes the keys to a property from a landlord, so it’s reassuring to know that the issue of financial security has been taken care of.

Client Money Protection Insurance gives both sides of the transaction a degree of confidence that was missing in previous years. It works in a simple way, providing a means of redress for anyone who has had money stolen or misappropriated by business owners, landlords or tenants.

James Neave the Estate Agent are proud to have become members of this scheme, which offers protection beyond that of the usual legal rights of all parties. In a perfect world, there would of course be no need for extra protection, but there have been a number of occasions in recent times when things went awry.

The UK’s Property Ombudsman reported a 37% increase in disputes against letting agents over the past twelve months, but as more and more agents decide to become members of CMP this number is expected to decline. A letting agency such as ours can now offer yet more protection to both landlords and tenants.

In recent years, the number of people choosing to rent instead of buy has risen dramatically, so it’s more important now than ever before to make sure you are using an agency that has access to an approved redress scheme should something start to go wrong.

According to the Office for National Statistics, some 8.3 million homes were occupied by rent-paying tenants in 2013. This figure represents around 36% of the total number of properties in Britain. Any addition to the levels of protection afforded to both landlords and tenants should be welcomed by all. Going forward, there is a hope that greater confidence in the whole process will continue to grow, and that’s why James Neave the Estate Agent is delighted to be able to offer clients the extra peace of mind.