Letting Agent goes bust

Letting Agent goes bust

9:55 AM, 27th September 2014, About 10 years ago 11

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Within the last 2 weeks another Letting Agent operating for approx 7 years has gone into receivership. Tenant deposits had not been protected, some landlords had not been paid for at least 7 months and apparently all the money has disappeared!! Letting Agent goes bust

They must have ‘managed’ over 200 properties, a fair amount of bond money and rents taken… Action Fraud reluctant to help….. Why should the owners of this company get away with defrauding hundreds of people?

I co-own an agency in the surrounding area and feel so strongly that the government should do something to stop this happening again in the future. How unprofessional letting agents can set up business without client bank accounts and bond protection is beyond me!! I am calling on all professionals in the industry to make a stance and force legislation for the better!!

Do you agree?

Kim Wilson


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Comments

Mark Smith Head of Chambers Cotswold Barristers

9:46 AM, 28th September 2014, About 10 years ago

Dear Robert Mellors,

Romain has answered your question in his post above.

Dear Kim Wilson,

I am starting a private prosecution of a letting agent who gave a fictitious name in the AST for the DPS he was using, and is refusing to repay 3 deposits. Only £1400 but still worth doing to send the message and get compensation. As Mark A says, no time limits on criminal proceedings for fraud or theft. We are happy to look at cases regardless of scale, as what may be too trivial for Action Fraud or the police may be very significant for a client

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