Estate agency ordered to pay £15,500 for client money protection failures
Original Article Summary
Estate agent had been operating without valid CMP cover for nearly five years
PropMatch Curated Analysis
Estate agent fined £15,500 for operating without client money protection cover for nearly 5 years, with tribunal rejecting appeals based on personal circumstances and financial hardship.
Investor Relevance
Landlords need to verify their letting agents have valid CMP cover to protect rental deposits and funds. The case shows enforcement is active and penalties are substantial, potentially affecting agent viability and service continuity.
Original Source:
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