Letting agents' new 'SAFE' scheme wins major backing

Friday 8th July 2011

A new scheme that will launch later this summer, which will show landlords and tenants where their money will be safer, is being backed by consumer groups.

The SAFEagent initiative has now attracted nearly 1,000 letting and managing agents.

All will be able to use a logo that shows the consumer that they are a letting firm that protects landlords’ and tenants’ money through a client money protection scheme – something that is not a legal requirement.

SAFEagent has also gained powerful support from the National Union of Students, Which? and Citizens Advice.

They have added their enthusiastic endorsements to backers which already include the likes of Shelter, the Property Ombudsman and the Council of Mortgage Lenders.

In a statement, the NUS said: “NUS is proud to support the SAFEagent scheme. All too often, students can fall prey to letting agents who do not have client money protection, and so can in effect disappear with their (and their landlord's) money.

“We know that the private rented sector is growing, with more and more people relying on the rented accommodation, and therefore it’s vital that we have mechanisms in place to make this a safe and professional sector, and ensure that tenants are not left out of pocket.”

Gillian Guy, chief executive of Citizens Advice, said: “Citizens Advice has a long history of seeking to protect the interests of tenants in the private rented sector, who are often among those who can least afford to lose money to the unscrupulous.

“This scheme helps steer tenants towards reputable letting agents who are properly insured. We are pleased to support it.”

Nick Cooper, chair of the SAFE steering group, said: “Support from such bodies is a mark or recognition for the ethos behind SAFEagent and a boost to our campaign to raise consumer awareness of the need to make an informed choice when using a lettings and management agents to ensure that clients money is protected.

“We welcome the support that these organisations will provide to ensure consumer awareness of SAFEagent is continued well after the consumer launch, which is expected soon.

“With numbers now approaching 1,000 sign-ups, we are well on our way to really making a difference for consumers.”

www.safeagents.co.uk