Date published: 2025-02-11 | Category: Delivering for local residents, Focusing on prevention, Trading Standards
A Chew Valley letting agent has been fined £10,000 for failing to comply with client money protection regulations following an investigation by Bath & North East Somerset Council’s Trading Standards team.
Mendip Property Management Ltd, based at 4d Fairseat Farm Units, Stoke Hill, Chew Stoke, was found to be operating without the necessary safeguards to protect client funds after the investigation revealed that the company did not have the required client money protection in place, putting tenants’ and landlords’ funds at risk.
This breach of regulations led to the issue of a penalty notice for £10,000. The maximum fine allowed is £30,000.
Mendip Property Management Ltd appealed the fine through the First-tier Tribunal and a hearing took place on February 4. Tribunal Judge Brian Kennedy KC upheld the penalty and directed the agent to obtain client money protection. He stated “In all the circumstances it seems to the Tribunal that the Respondent has acted reasonably and within the Law. Accordingly, the appeal must be dismissed.”
Councillor Tim Ball, cabinet member for Neighbourhood Services at Bath & North East Somerset Council, said: “We take the protection of client funds very seriously. This fine serves as a reminder to all traders that they must comply with regulations to ensure the safety and security of their clients’ money.”
If you are a letting or property management agent in the private rented sector in England and you hold clients’ money, you must join a client money protection scheme. For further details and a list of the approved schemes visit https://www.gov.uk/client-money-protection-scheme-property-agents
The council runs an approved trader scheme called ‘Buy with Confidence’ where residents can search for local businesses who have been vetted and approved by Trading Standards. Anyone looking for a local business is encouraged to visit www.buywithconfidence.gov.uk
For consumer advice, residents can contact the Citizens Advice Consumer Service who work in partnership with Bath & North East Somerset Trading Standards. Telephone 0345 40 40 506.
ENDS