Shreena Shah

Registered with Property118.com
Thursday 26th August 2021


Latest Comments

Total Number of Property118 Comments: 3

Shreena Shah

17:49 PM, 23rd September 2021, About a month ago

FTT Appointed Manager in Doghouse. Now what?

Reply to the comment left by BernieWales at 23/09/2021 - 17:32@Bernie. It is a scary thought. I would not explicitly say. But I certainly think it is for HMRC to investigate, trace the money and decide whether a) money has in fact been laundered and b) whether ABC Estates has the proper anti-money laundering practices in place that are customary within the industry.
I will say that I have spoken to many other estate agencies now and every single one is definite about the following: they would never accept cash only payments from a tenant throughout the entire tenancy, they would find payments exclusively in cash like this highly suspicious, they would require at least the first payment to come from a bank account and that to accept cash only in this way is against the money laundering protocols they all have in place.
This... plus the lack of referencing... you may recognise the name of the employer's reference of one of my 'tenants' from this forum - Valens Contractors Limited.... Read More

Shreena Shah

16:46 PM, 23rd September 2021, About a month ago

FTT Appointed Manager in Doghouse. Now what?

Reply to the comment left by Nick Hargrave at 22/09/2021 - 11:36@Nick. Tax avoidance is a likely explanation as to why a company would choose to contract with someone as a self-employed freelancer when they bear the hallmarks of an employee of the company. Certainly, when considering IR35, HMRC would look more to the reality of the working relationship than how a business chooses to frame someone.
It would be interesting to know how many other ‘contractors’ are working at ABC. A lot of companies presume that no one would ever check up on this.
On the subject of HMRC and Richard Davidoff, some of you may recall from my previous post on this thread that two of my properties let by ABC Estates were turned into cannabis farms found destroyed in starkly similar circumstances to each other. In both cases, every payment made by the tenant, including all rent and deposits were paid into ABC’s business account in cash only. ABC collected the rent and paid it to me so I never knew this at the time. It is a legal requirement for certain businesses including Estate agents to be registered with HMRC for Anti-Money Laundering supervision, this helps ensure compliance with the Money Laundering Regulations 2017. Aldermartin Ltd is on this register. In one instance, a cash payment (deposit plus first month’s rent) was paid to ABC of over £5000! Richard Davidoff has said in writing to us many times both publicly and privately that ‘cash is legal tender’ and that many tenants pay them in cash. The issue here is that the payments were EXCLUSIVELY in cash. A bank account also, of course, accords a further form of legitimacy when vetting a tenant. ABC never had a bank account on file or a bank payment from either tenant – and says there is nothing wrong with that. I wonder what HMRC/ the NCA would have to say about that….... Read More

Shreena Shah

16:09 PM, 1st September 2021, About 2 months ago

FTT Appointed Manager in Doghouse. Now what?

@Vivienne. Yes. If even in these circumstances authorities like ARLA do not use the rules of their membership to actually protect consumers, then what use are they?
@Bernie Wales. I agree that Richard Davidoff must be stopped.
The system also needs overhauling to stop managing agents with the inclination to exploit from slithering through gaping wide loopholes unchallenged. The system at present almost empowers those who understand all its shortcomings to commit systematic acts of negligence/fraud/ breach of contract as they repeatedly avoid accountability.
@Vivienne I have also heard of lettings agents taking large sums of cash as kickbacks to turn a blind eye and knowingly let properties on their roster out to criminals.
For my two properties, upon discovering that all the money taken as rent and deposits by ABC Estates was in Cash only for two properties with no bank account on file either, that neither deposit was placed in the TDS (despite written confirmation that it was) and with strong evidence to suggest that even the sparse references provided are fakes (just landlord and employer’s references – no bank statements, payslips or passport IDs), you can imagine my thoughts on the matter….
Richard Davidoff’s response? ‘Cash is legal tender’, ‘That is a landlord’s risk – not ours’, ‘We certainly were not aware of the requirements of your insurance company to get bank to bank transfers’. ‘The lettings team did the basic references…so fulfilled any due diligence they may have had’... Read More