First Ever Industry Forum Discusses CMP Transparency

21 November 2012 Categories: News

First Ever Industry Forum Discusses CMP Transparency

The first ever industry forum was held last week to discuss the transparency of Client Money Protection schemes and their future. The forum consisted of representatives from the big insurers and tenancy deposit protection schemes, as well as the heads of SAFEagent, NALS, RICS, ARLA and Capita – a new company who are set to launch an insurance-backed TDS in April 2013.

Through the course of the meeting, the attendees discussed how the details of CMP could be explained better to consumers, so that landlords and agents will have a better understanding of how the schemes work and which will be more beneficial for them. The subject of choice was also broached and it was decided that the Tenancy Deposit Schemes already available needed to be more transparent and thus easier to compare.

It was decided that a number of consumer groups would be employed to garner the opinions of landlords and agents alike, so that the current level of understanding about CMP can be discovered. This will then, hopefully, allow the forum to see where information is lacking and how they can improve things in the future.

The next meeting of the industry forum is set for February 2013 when the results of the consumer polls should be available.