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  • Landlords in Distress

    Black Country letting agent goes bust.

    A report on the front page of the Stourbridge News says that Holmes The Property People has gone bust owing over £100k in deposits and rents to tenants and landlords.  Money is also owed to contractors who have carried out work for Holmes, who have a branch in Kingswinford and another in Wolverhampton.

    A facebook group has been set up called Justice for Homes Estate Agents Victims.  Early indications are that over £100k is owing. The case has now been passed to Action Fraud ( in my experience this is too small for them to be bothered with).

    Yet again it looks like an agent has taken deposits and not secured them with one of the approved schemes.  http:// https://www.dudleynews.co.uk/news/17652282.estate-agent-shuts-down-leaving-clients-demanding-their-cash/

    On a separate note, my partner's daughter has just retrieved her deposit from a well known London agent.  It is obvious that the deposit was not secured during her 8 month tenancy. 

    It's all very well bringing in yet more laws to curb the activities of  rogue landlords and agents, but a good start would be to ensure that the powers that be,  actually enforce the law on the ones they already have.

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    Nice website and shop, but not a member of the Property Ombudsman or RICS or ARLA. Why do Landlords choose to give their investments to these (no doubt cheap) unregulated Estate Agents??

    Cheap for a reason, and now the client monies have disappeared and aren't insured. The EA is definitely a crook, but the diligence of Landlords is lacking.

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