We have today changed the code and criteria of the PRS accreditation scheme. Other than updating it with new logos and name changes throughout, the main changes relate to letting and managing agents.
The section relating to agents should be read but to summarise, the main changes are:
- Currently, deposits protected with the DPS custodial scheme is an acceptable substitute for client money protection. This is being phased out and before 1 June 2015, all agents will have to have client money protection such as that provided by CM Protect.
- We are not licensed for London Rental Standard but a license has been requested. If approved, landlords wishing to display the LRS badge will have to have client money protection immediately.
- Currently at least two thirds of staff of agents must have completed the course. This is being changed to at least one active staff member per office branch of the agency must have completed the course.
There are a number of other minor additions worthy of reading in the code.