As an ARLA licenced Lettings Agent, not only do we provide you with the very best advice on your property and keep you up to date with new legislation, but we also protect all money held on your behalf in a designated customer account safeguarded by NFoPP Regulation.
What does this mean?
It means that should we misappropriate your rent, deposit or other funds, the scheme will consider an application to compensate you.
Are there limits to this cover?
NFoPP, through their scheme, will compensate a landlord or tenant up to a limit of £25,000. Landlords are limited to a maximum of three month’s rent. The total payable in respect of a member company would be £500,000. In any one year, the scheme has a limit of £3,000,000.
How do I make an application?
All you are required to do in the first instance is to contact the Regulation Department by emailing firstname.lastname@example.org .
Is there a time limit for mating an application?
Yes, applicants must file an application for compensation with NFoPP within a period of 12 months from the date that NFoPP are first alerted to issues with a member company.
Will I need to be able to prove fraud?
No, you are only required to prove that you have not received monies to which you are legally entitled.
My agent claims they have spent my rent upgrading my property, is this possible?
This is possible, depending on your terms and conditions of business agreed with your agent, but you should be provided with copies of the appropriate receipts by the agent.
The fact that we are responsible agent, means that you will probably never need to make such a claim, but the important point is we are subscribed to provide you with total piece of mind.
If you have any questions about this or any other lettings matter, please do hesitate to give myself and my team a call on 01252 514000 and you can find out more about Client Money Protection by clicking here.