Client Money Handling Procedures

Client money is defined as money that JW&Co Langleys holds or receives for or from a landlord or tenant.

The following policy is strictly operated by JW&Co Langleys in the handling of client money.

  1. Probate/ Inheritance Tax
  2. JW&Co Langleys maintains a separate client bank account solely for the use of all client money.
  3. The title of our client money bank account is easily distinguishable from our other accounts and clearly states it as the ‘Client Account’.
  4. We can provide on request written confirmation from our bank that all client money is held by us as an agent and that the bank is not entitled to combine the client money account with any other account or to exercise right of set-off or counterclaim against money in that accounting respect of any sum owed to it or any other account in the business.
  5. We have and maintain systems and controls which enable us to monitor and manage clients’ money and transactions and any credit risk arising.
  6. All our accounting systems and client data are securely controlled and protected.
  7. Obtain client’s written approval to make payments from their account.
  8. Bank all clients’ money received at the earliest reasonable opportunity.
  9. Only nominated and authorised staff handle client money.
  10. We will ensure our records show all dealings with client money.
  11. We reconcile client accounts together with bank and cash balances at least once a week in order to demonstrate control over the accuracy and completeness of accounting records.
  12. We will ensure that there are always sufficient funds in the client account to pay all amounts owing to clients.
  13. We will repay any client money without delay if there is no longer any requirement to retain that money or the client requests it.

Our clients include private individuals, private businesses, trusts and institutions. We have a strong background in the management of property and deal with a lot of local domestic and agricultural property transactions which provides us with an invaluable insight and knowledge required for carrying out valuations and advising clients.

Our professional surveyors are members of the RICS Valuation Registration Scheme (VRS) which is mandatory for RICS members carrying out Red Book Valuations within the UK. The scheme reinforces professional standards and ensures the consumer can have confidence in the delivery of valuation advice of the highest professional standard.

The types of properties we have valued are many and varied, and include; land, houses, mansions, buildings, telecoms, and other rural assets (usual and unusual), wind farms, sporting property, rurally based leisure and commercial.