The Government has released its enforcement guidance on mandatory client money protection for property agents in the private rented sector. This important document will provide enforcement guidance for local authorities and will set out has set how engagement will take between the trading standards and property agents.
Mandatory membership of a client money protection scheme for all property agents in England came into effect on 1st April 2019 and will enable a tenant, landlord or both to be compensated if all or part of their money is not repaid. The maximum penalty for non-compliance will be £30,000.
A download link to the Government paper has been made available here.