All companies engaging in lettings and/or property management work are required to be a member of one of the two government approved property redress schemes - TPO (The Property Ombudsman) and PRS (The Property Redress Scheme).
You must join a client money protection scheme if you're a letting or property management agent and you hold clients' money.
- Client Money Protect
- Money Shield
- Safeagent (previously NALS)
- UKALA Client Money Protection
We will check that all new agents are members of a client money protection and redress scheme.
In addition to this, we currently ask that any letting agents registered with us are a member of one of the following four schemes:
- ARLA (Association of Residential Letting Agents)
- NALS (National Approved Letting Scheme)
- RICS (Royal Institute of Chartered Surveyors)
- TPO (The Property Ombudsman)
These schemes have been judged to have satisfactory complaints and redress procedures for our students, as well as robust written codes of practice, the requirement for members to hold professional indemnity insurance and demonstrate appropriate client money accounting procedures.