Why use a UKALA agent?

The UK Association of Letting Agents (UKALA) is a professional membership body which supports its agent members to stay compliant in an ever-changing regulatory environment.

We offer a wide range of services at a great value price to improve standards through professional development. We also make compliance easier for UKALA agents by giving them membership to our government-approved CMP scheme and independent redress scheme.

What is Client Money Protection?

Client money protection (CMP) is an insurance-backed product for Letting and Property Management agents. It protects tenants and landlords from misappropriation of client monies by the agent, such as the theft of client monies by a Director, Principal or Partner.

UKALA CMP is insured by Hiscox, one of the best names in the industry.

Do Letting and Property Management Agents need CMP?

Yes, as of 1st April 2019 it became mandatory for all letting and property management agents that handle client money to obtain CMP in England.

In Scotland it became mandatory for letting and property management agents to have CMP from 31st January 2018, and in Wales from 23rd November 2015.

If agents of England, Scotland and Wales have not obtained CMP they are liable to be penalised for non-compliance of legislation. UKALA CMP is recognised in England, Scotland and Wales (under Rent Smart Wales).

What is an Independent Redress Scheme?

On the 1st October 2014, it became mandatory for all estate, letting and property management agents to belong to a government-approved redress scheme.

The two schemes are The Property Ombudsman (TPO) and the Property Redress Scheme (PRS).

The role of the independent redress scheme is to provide impartial dispute resolution between the agent and members of the public. UKALA agents are automatically given membership to the PRS.