SafeAgent Logo
Both landlords and tenants are at risk from lettings agents and estate agents who disappear with rent and deposit money. A kitemark-style scheme has been launched to reassure tenants and landlords worried about losing money handed over.
Agents displaying the SAFEagent mark will already belong to a client money protection scheme operated by the National Approved Letting Scheme, the Association of Residential Letting Agents, the National Association of Estate Agents and the Royal Institution of Chartered Surveyors. These pay out in the event of the agent going bust or misappropriating money that has been handed over as a deposit or rent.
The scheme is backed by organisations including housing charity Shelter, the NUS, the Trading Standards Institute, the Residential Landlords Association and the British Property Federation.
In practice landlords are more at risk from rogue agents than tenants – tenants need to ensure their money goes to the genuine owner of the property that they are going to live in, Landlords need to ensure that the business handling their money is protecting it in a client account rather than using it to fund their own activities.
