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This document sets out the government’s response and proposed approach for implementing mandatory client money protection for property agents in the private rented sector.
Client money protection schemes give landlords and tenants confidence that their money is safe when it is being handled by an agent. Where an agent is a member of a client money protection scheme, it enables a tenant, landlord or both to be compensated if all or part of their money is not repaid.
This consultation paper invites views and comments on how membership of mandatory client money protection schemes for letting and managing agents in England should be designed, implemented and enforced.