Tenants - Protection
What is Money Shield?
Money Shield is a Government approved Client Money Protection (CMP) scheme enabling Princess Park Estates to reassure tenants, landlords, buyers and vendors that their money is safe. If your agent has misappropriated your money, contact Money Shield to make a claim. Money Shield will step in to reimburse landlords and tenants should a property agent misappropriate rent, deposit or other client funds.
Money Shield offers the peace of mind that your money is protected if the unthinkable happens. If your rent or maintenance funds go missing due to theft or your agent goes bust, your money will be reimbursed quickly without any hassle.
PRS – Property Redress Scheme
Princess Park Estates are also a member of PRS: Property Redress Scheme.
Property Redress Scheme is a government approved redress (ombudsman) scheme for property Agents and Professionals.
By law, Property Agents are required to join a government authorized consumer redress scheme. The purpose of this is to give consumers of the Property Agent an escalated complaints procedure if they are unhappy with how their complaint has been dealt with by the Agent.
A ‘Consumer’ is a person who uses the service of the Property Agent. Estate Agent consumers will be both sellers and buyers of a property. Letting Agent consumers will be both landlords and tenants. Property Management Agent consumers will generally be the freeholder, head leaseholder or residents’ management company.
The main purposes of the Property Redress Scheme are to allow Princess Park Estates to comply with their legal requirements to be a member of a government authorized consumer redress scheme and to settle or resolve complaints made by consumers against Princes Park Estates.
Princess Park Estates and consumers will both benefit from PRS’s simple three stage process to resolve complaints:
- Princess Park Estates will first be given an opportunity to resolve the complaint directly
- The Property Redress Scheme offers a mediation service
- The Property Redress Scheme Ombudsman will make a binding decision on the complaint made by the tenant
Please find more information on their website: https://www.propertyredress.co.uk/
