Manchester Rent A Home Management Company Limited
CLIENT MONEY POLICY
1. Purpose of Policy
1.1 This Policy sets out how Manchester Rent A Home Management Company Limited
(“the Company”) handles money on behalf of clients (“Client Money”).
1.2 The Company shall handle all Client Money in accordance with this Policy.
1.3 The aims of this Policy are:
1.3.1 To ensure that Client Money is kept safe
1.3.2 To ensure that the Company complies with its legal and regulatory obligations as regards
handling Client Money.
2. Meaning of “Client Money”
2.1 Client Money is any money received by the Company that does not solely belong to the
Company. Examples include:
2.1.1 Tenant deposits
2.1.2 Rent
2.1.3 Service charges
2.1.4 Fee money taken in advance
2.1.5 Client money held but due to be paid to contractors
3. Legal and Regulatory Obligations
3.1 The Company shall ensure that the Company and all members of staff comply with all legal
obligations relating to the handling of Client Money.
3.2 The Company shall ensure that the Company and all members of staff comply with any rules or
regulations relating to the handling of Client Money imposed by:
3.2.1 Any professional or regulatory body
3.2.2 Any trade association
3.2.3 Any Ombudsman redress scheme of which the Company or the relevant member of staff is a
member.
3.3 The Company shall employ competent staff to handle Client Money and shall provide them with
appropriate training and support.
3.4 The Company shall comply with the Client Money Protection Schemes for Property Agents
(Requirement to Belong to a Scheme etc.) Regulations 2019 and shall ensure it is a member of a
government approved client money protection scheme (CMP) and the Company shall (if they’ve been
provided with a certificate from the scheme administrator):
3.4.1 Display the certificate confirming the Company’s membership to the CMP on its website and in-
branch
3.4.2 Produce a copy of the certificate confirming the Company’s membership to anyone who
reasonably requires it, free of charge; and
3.4.3 Provide written notification to each client within fourteen (14) days if their membership is
revoked, or they change to a different approved CMP scheme (and the name and the address of the
new CMP must be provided).
4. Client Bank Accounts
4.1 Client Money shall be held in one or more client bank accounts which are separate from the
Company’s office bank account and which shall have the word “client” in the account name.
4.2 Client Money received shall be banked promptly and in any event within three working days.
4.3 Client Money due to be paid to the client shall be transferred to the client promptly.
4.4 Clients will be provided with statements of income and expenditure.
5. Accounting Systems
5.1 The Company shall ensure that appropriate accounting systems are in place, including
arrangements for regular reconciliations and annual audits or inspections
