As of 1^stApril 2019 a new regulation will come into force, the ‘Client Money Protection’ Schemes for Property Agents (Requirement to Belong to a Scheme etc) Regulations 2018. Under these rules, all private property letting agents will need to sign up and become a member of a government-backed scheme protecting client money. Failure to comply means facing a fine of up to £30,000. 

The idea of this Regulation is to prevent tenants and landlords being left out of pocket if an agent unexpectedly disappears or goes out of business. 

This is one of many new Regulations the Government have brought in to regulate agents and protect clients. This is a scheme that Cobbles can wholeheartedly back and agree with. We have been an ARLA Propertymark Member for a number of years now meaning we have Client Money Protection and are audited regularly. We feel that our business needs to be up front and honest about every aspect and we hope that these regulations will guide other less forthcoming estate and letting agents.  

To find out more about Cobbles and what we do to protect our clients, please get in touch with our office.