Hamilton Fraser’s supportive solutions for agents

Who is Hamilton Fraser?

With over 20 years’ experience in the property industry, Hamilton Fraser supports letting agents, landlords and tenants by providing a range of solutions and thought leadership to help them navigate the private rented sector with ease.

Starting out as an insurance broker specialising in property (and medical indemnity) back in 1996, Hamilton Fraser is now most recognised in the private rented sector for providing award-winning landlord insurance.

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Hamilton Fraser offers a wide suite of solutions to help assist your lettings business at all stages of the tenancy lifecycle and protect your reputation. We also offer a monthly agent newsletter, keeping you up to speed with all the latest news and regulatory changes in the industry, as well as offering top tips from our network of experts. Sign up here.

How does Hamilton Fraser support letting agents?

Hamilton Fraser is the driving force behind a number of solutions for letting agents who are striving to succeed in today’s highly regulated environment.

As parent company to mydeposits, we offer a simple deposit protection solution for letting agents, landlords and tenants.

We provide independent escalated complaint handling through the Property Redress Scheme.

We offer membership of a client money protection scheme with Client Money Protect.

Our bespoke professional indemnity insurance is aimed at letting agents of all sizes.

We can also help you with tenant referencing through Tenant Verify. With Landlord Action we now provide legal services through an SRA regulated law firm.

Finally, to guide you through the ever-changing regulatory landscape we have launched the HF Academy, offering property professionals expert advice through a programme of workshops.

As part of the Hamilton Fraser group, our solutions for agents benefit from our industry-wide expertise and our commitment to supporting letting agents, landlords and tenants during a time of significant evolution in the private rented sector.

Hamilton Fraser’s agent timeline

Throughout Hamilton Fraser’s journey there have been many historical milestones; on the timeline below you can see those which highlight Hamilton Fraser’s commitment to agent solutions.

Hamilton Fraser’s supportive solutions for agents | HF timeline

Take a look at the full Hamilton Fraser history here.

Hamilton Fraser’s supportive solutions for agents

1. Tenancy deposit protection

Hamilton Fraser is parent company to mydeposits, one of the three government authorised tenancy deposit protection schemes. Set up in 2007 as a result of tenancy deposit protection legislation, mydeposits has been protecting tenant’s deposits on behalf of landlord and agent members ever since.

mydeposits is the only government authorised tenancy deposit protection scheme to operate across the UK, including England & Wales, Scotland, Northern Ireland and Jersey.

Landlord and agent members have the freedom to protect their tenant’s deposits in one of two ways, either using custodial or insurance based deposit protection according to the individual needs of the landlord or agent. Custodial deposit protection is free of charge and allows agents to pass the tenant’s deposit over to mydeposits to safeguard for the duration of the tenancy. Alternatively, agents can protect their tenant’s deposits by using the insurance based scheme. In this instance the agent pays a small deposit protection fee to legally protect each deposit and holds the tenant’s deposit for the duration of the tenancy.

mydeposits’ agents can enjoy;

  • A named contact to help offer support and advice
  • Integration available with property management software for automatic deposit protection
  • Face to face training via the Hamilton Fraser Academy, helping to support agents with changing legislation

 

2. Client money protection

Since 1 April 2019, client money protection has been mandatory for lettings agents, with the purpose of supporting and raising standards within the industry. Client money protection aims to safeguard client money held by property agents.

In the event that monies are misappropriated by an agent in the course of running their business, client money protection helps to return monies to the affected parties (landlord and/or tenants).

Hamilton Fraser’s Client Money Protect has been running a voluntary scheme since 2014 and protects the money of nearly 3000 agents. With Client Money Protect, agents must adhere to certain standards such as having adequate professional indemnity insurance in place and being members of a recognised consumer redress scheme. The comprehensive nature of Hamilton Fraser’s agent focused solutions means that agents can easily fulfil these requirements by joining Hamilton Fraser’s sister company, the Property Redress Scheme or taking out our professional indemnity insurance.

3. Property Redress

All property agents that carry out estate, lettings and property management work in England or Wales, as defined by legislation, must join a government authorised consumer redress scheme.

This means that should a customer have a complaint about an agent’s service, which cannot be resolved between both parties, then the redress scheme acts as an independent intermediary for dispute resolution.

Hamilton Fraser’s subsidiary company HF Resolution Ltd runs the Property Redress Scheme, one of two government approved redress schemes.

The Property Redress Scheme now has over 11,000 members and is aimed at resolving complaints made by consumers against agents. Being part of a redress scheme helps to give your customers peace of mind that any complaints will be resolved by an independent third party who has experience in dealing with consumer complaints.

Letting agents who do not belong to a redress scheme face fines of up to £5,000.