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Mandatory Client Money Protection for Letting Agents

Submitted on Wednesday 26th October 2016

Published on Tuesday 1st November 2016

Current status: Closed

Closed: Monday 1st May 2017

Signatures: 7

Tagged with

Money ~ UK

Petition Action

Mandatory Client Money Protection for Letting Agents

Petition Details

The Government is less than lukewarm about making it mandatory that all Landlord and Tenant money is safely held in Client Accounts and covered by insurance policies. Some of our present Landlords have lost thousands with agents that have closed down and run off with money they banked from Tenants.

Additional Information

A solicitor, conveyancer or even a financial adviser is not afforded the same trust. Unfortunately the small minority of agents do, often, run away with large sums of money!

Why are we as agents so poorly regulated?

Further discussion and details here: https://www.aaronjbarclay.co.uk/should-client-money-protection-be-mandatory. Estate agents in London and beyond should be made to comply.

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