Is Your Letting Agent Compliant - Parkgate Estate Agents

Industry insights

Is your letting agent compliant with the latest regulations?

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When renting out your home through a letting agency, it’s important to work with a firm which takes its compliance responsibilities seriously.

In recent years, government regulation of the private rental sector has increased significantly, meaning landlords – and letting agents working on their behalf – have more compliance obligations than ever before. Penalties for non-compliance can be severe, so it’s vital that you stay on the right side of the law.

Mandatory Client Money Protection

The most recent piece of legislation for letting agents to adhere to is mandatory membership of a Client Money Protection (CMP) scheme, introduced on April 1 2019.

As part of this legislation, letting agents are now required to hold client money with a bank or building society which is authorised by the Financial Conduct Authority (FCA) and have professional indemnity insurance in place.

Agents are also now required to display their CMP certificate prominently on their website and in their offices and have appropriate CMP handling measures in place.

It’s important that your agent is part of a CMP scheme so that your money is protected in the event that it is misappropriated or used fraudulently, or in the event your letting agent goes out of business. CMP schemes operate on an insurance basis, allowing consumer to make claims for their funds to be returned if they go missing.

Here at Parkgate Estates, as we take protecting our clients’ money very seriously, we are covered by UKALA’s CMP Certified scheme, which is underwritten by Hiscox and regulated by the FCA.

Does your agent belong to a redress scheme?

Another key piece of legislation, which has been around for some time now, is the need for all letting agents and property managers to be part of a government-approved redress scheme.

These organisations provide consumers with the means to lodge complaints against agents and act as a mediator in disputes between all parties.

We are a member of The Property Ombudsman, a not-for-profit organisation which has been providing redress services since 1990.

Although it’s unlikely that you’ll need to make a complaint about the service provided by your letting agent, it’s important that you have the peace of mind that the option is there should you need it.

What’s more, as the vast majority of agents are members of a redress scheme as a matter of course, it stands to reason that those firms who are yet to sign up may not be confident in the service they are offering.

The rental sector is becoming more professional

As mentioned above, in recent times the government has paid increasing attention to the rental market and introduced a number of new regulations. This contributes towards ridding the industry of rogue landlords and agents, increasing professional standards across the board.


Letting a property is certainly becoming more complex and time-consuming. And, with this in mind, it’s crucial that landlords work with a letting agency who takes their own compliance obligations seriously as well as those of their clients.

A compliant agency delivering a professional and efficient service is invaluable to the modern landlord as costs continue to rise and administrative pressures increase.

Here at Parkgate Estates, we have more than 40 years’ experience of working in the Richmond, Sheen, Mortlake and Putney areas, which means we have the knowledge and expertise to help you get the most from your rental properties while remaining complaint at the same time.

To find about more about how we can help you to let your home and maximise the value of your property portfolio, get in touch with our expert team today on: 0208 940 2991.

And if you’re thinking of letting your property and would like to know how much it could be worth on the current local market, you can request a free and instant online valuation.

Emre OvacıkEmre Ovacık
08:38 01 Sep 23
Very responsive, informative and always kind people. We didn't have much time, but they helped us with creating some time in their agenda and squeezing us in. We rented our place just in time, thanks to them.
Branka ObradovicBranka Obradovic
12:21 22 Feb 23
Parkgate has been my agent of choice for a number of years now and has secured good tenants for my properties. They are hard working, respond in a timely manner and best of all are always friendly rather than aggressive or overbearing, which is the case with many of their competitors.
Jorge RodriguezJorge Rodriguez
15:01 02 Feb 23
Excellent service throughout.We rented a property that they manage for 4 years.Parkgate team is very professional and approachable. Way better than dealing with a big agency, they offer a more personal approach, always available and willing to solve any issues.From the tenancy agreement to handing the property back, it has been a real pleasure working with them.
Catherine BrownCatherine Brown
12:16 30 Aug 22
I have had an eight year relationship with Parkgate, in fact they originally sold my flat to me 12 years ago in Putney. Their service and professionalism is unrivalled. They managed the leasing of my flat from 2014 and assisted me to negotiate the successful sale just now in 2022. Chris has been there throughout with an open door and no request too trivial to assist. Klaudia negotiated my sale and worked with amazing tenacity throughout. I would not hesitate to recommend Parkgate to anyone in the Putney/Richmond area, they know their stuff.
Ali ChampkinsAli Champkins
10:16 31 Jan 22
We have had a wonderful experience with Parkgate and would highly recommend them. Chris was brilliant on the valuation - what we liked is he was totally honest about our chances of selling and gave us the positives and negatives about our property (such as facing a council estate!). Other agents tend to just gush over the good bits which is great, but actually not that helpful.The selling process was great - we were given good feedback from the viewings and got the price we wanted within about 8 weeks.We really have nothing but praise for Klaudia and Chris, it's been really enjoyable, easy and stress free and we will be recommending Parkgate to all our friends in the area and our building.***** Thank you! *****