11:23 AM, 14th October 2019, About 2 years ago 2
One of the Uk’s first online letting agents, Upad has confirmed it will no longer be accepting new business and it’s home page has now been redirected to >> https://www.upad.co.uk/closed.html
The founder of Upad, James Davis, told The Property Industry Eye at the weekend that he recently spent 5 months recovering from an emergency heart operation and had “lost his drive.”
James said to the Eye: “I am going to be taking a break. The last 11 years have been very intense, and I am now looking forward to hanging out with the children and having fun with them. I cannot claw back the lost time I could have spent with them. I started a business at the same as starting a family, which is not ideal. But I am really looking forward to having time with them now.
“When it comes down to it, nothing is as important as your health and your family.”
The homepage states:
“We regret to inform you that Upad is no longer accepting new business. We would like to thank all our customers for their support over the last ten years.”
“FAQs for landlords
Q: I have an ongoing tenancy administered by Upad. What will happen to my tenant’s deposit?
A: The deposit is protected by a government approved tenancy deposit scheme (TDS). We have transferred all deposits held by us into their custodial scheme.
If you need further information about the deposit, you can access this via the TDS website by entering the tenancy details here https://www.tenancydepositscheme.com/is-my-deposit-protected.html
At the end of the tenancy, you will negotiate any deductions directly with your tenant and then give authority to the deposit scheme administrators for the deposit to be released, subject to the rules of the scheme.
Q: Upad are collecting rent from my tenant. What will happen to that process in future?
A: Any rent already collected by us will be promptly paid over to you on receipt. We hold all client money in a strictly segregated account, separate from our own funds. We will stop collecting rent by direct debit after 10 October 2019 so you should contact your tenant directly to make alternative arrangements for future rents to be paid.
Q: I have paid for a Upad advertising package and haven’t yet found a tenant.
A: We are sorry that we have not been able to find you a tenant. If you have purchased a Upad package since 1 October 2019 then we will be refunding you in due course. If you purchased a Upad package prior to that date, we regret that we cannot offer a refund.
Q: I am in the process of agreeing a tenancy for a new property. What should I do?
A: Please contact the tenant directly to conclude negotiations.”
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