Tenants - Protection
CMP - Client Money Protect
Princess Park Estates is a member of CMP: Client Money Protect Scheme, which is a client money protection scheme.
Client Money Protect is a government approved Client Money Protection Membership Scheme that protects any money held by our Members on behalf of their clients should the member misappropriate it. The business was formed in 2014 – originally as the UK’s first ever voluntary client money protection scheme outside of the traditional agent trade body organization – and is also recognized in Scotland (under Rent Smart (Wales)). Please find more information on their website: https://www.clientmoneyprotect.co.uk/
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.theprs.co.uk/