Client Account reporting

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This page describes the reporting requirements for Propertymark members who are a Principal, Partner or Director of a company which handles its clients’ money or outsources its back office functions to a client accounting service provider (CASP) to handle it.

Client money includes any money received and held by a Member Firm or its client accounting service provider to which it is not beneficially entitled. Examples include:

  • Tenants' deposits
  • Rents
  • Service charges
  • Interest (if in an interest-bearing client account)
  • Arbitration fees
  • Fee money taken in advance
  • Clients' money held but due to be paid to contractors
  • Money held by members appointed as a Receiver
  • Sale proceeds
  • Purchase deposits

If you fall into this category then for each company you represent you must produce an accountant's report as part of your application. Then once you are in membership you will need to provide an annual report within 6 months of your company's financial year end to show compliance with Propertymark Conduct and Membership rules.

If You Handle Client Money

If your firm handles client money you must provide an accountant's report annually within 6 months of the firm's financial year end. 

More info...

If You Use a Client Accounting Service Provider

If you entrust your client money to another company to manage, you need to check if an accountant's report is required

More info...

If your firm directly handles client money and uses a client accounting service provider (CASP) then you need to click on both the above links, as you may need to provide two accountant's reports.

Please note: For Regulated by RICS companies, or companies regulated by the Law Society or the Law Society of Scotland, the above requirements do not apply. We accept evidence that a company is regulated by one of those organisations in lieu of our own regulation.

For more information please call 01926 417 365.