Client Money Handling Procedure

At Upper Residence Property Ltd, we understand the importance of protecting client money. Whether we are holding rent, tenancy deposits or funds for property-related expenses, we are committed to managing all client money responsibly, securely and transparently.

What is Client Money?

Client money is any money we receive or hold on behalf of landlords, tenants or other clients. This may include:

• Rental payments
• Tenancy deposits
• Holding deposits
• Maintenance funds
• Any other money held on behalf of a client

How We Protect Client Money

We operate strict procedures to ensure client money is handled safely. This includes:

• Keeping accurate financial records.
• Recording all transactions promptly.
• Restricting access to authorised personnel only.
• Regularly checking account balances and financial records.
• Following appropriate internal controls to reduce the risk of error or fraud.

Receiving and Holding Client Money

Client money is received through approved payment methods such as bank transfer, standing order or other secure electronic payments.

Funds are allocated to the correct client account as quickly as possible and are only used for their intended purpose.

Payments

Payments are only made when properly authorised and supported by appropriate documentation.

Before any payment is released, we verify that the payment details are accurate and that the funds are being distributed correctly.

Record Keeping

We maintain clear and accurate records of all client money transactions, including receipts, payments and account balances. Records are retained in accordance with legal and regulatory requirements.

Fraud Prevention

Upper Residence Property Ltd takes fraud prevention seriously. We have procedures in place to help identify and prevent fraudulent activity, including verifying payment instructions and protecting confidential financial information.

Contact Us

For questions regarding our client money handling procedures, please contact us: