Agents must also:
- hold client money in a client money account with a bank or building society authorised by the Financial Conduct Authority, or be making all reasonable efforts to do so
- hold and maintain appropriate professional indemnity insurance
- have appropriate client money protection handling procedures
- obtain a certificate confirming membership of an approved protection scheme and display this prominently in each of their offices where they deal with the public and on their website
- provide a copy of the certificate to any person who may reasonably require it, free of charge
Government approved client money protection schemes
The Government has approved the following client money protection schemes for letting and property management agents in the private rented sector: