Surely I am not the only landlord worried about new EPC requirements?9:44 AM, 17th February 2021
About 2 weeks ago 125
Channel 4 TV have tracked down Daniel Burton of Unida Place in Scunthorpe. The self proclaimed “Rent to Rent Guru” vanished from London back in August this year leaving both landlords and tenants 10’s of thousands of pounds of of pocket. More details in this 5 minute News clip courtesy of Channel 4 TV.
Mark Alexander, founder of Property118.com said….
“obviously we feel for the tenants who have lost their deposits but landlords arguably have an even bigger problem. They let their properties to Unida Place in good faith but probably have a very small chance of being compensated for any losses they will now suffer as a result of lost rent, damaged properties, fines for unlicensed HMO’s and any Court awarded damages for evictions undertaken by Unida Place and unprotected deposits. Many of these landlords will still be housing tenants who paid Daniel Burton’s company but rents were not passed to them. Burton’s agreements with tenants are equally spurious, possibly even unenforceable. These tenants will probably hold the property owners responsible for their losses. We saw the potential of a disaster such as this looming and had a Rent to Rent agreement professionally drafted by renowned contracts Solicitor Justin Selig to hold operators such as Daniel Burton personally accountable to property owners. Sadly Mr Burton didn’t use this Rent to Rent agreement.
Fortunately, not all Rent to Rent operators are rogues and many of them want to to the right thing by their landlord and tenant customers. More ethical operators are prepared to put their money where their mouth is and have purchased the Rent to Rent contract template, as have many property owners who are attracted to the concept of the scheme which can work well if operated by a financially sound and trustworthy business.”
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