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Kingsman Properties have four properties that they have rented for us for some time. About 6 months ago rents started to arrive late and it proved very difficult to get hold of Sam Eustace for clarification. When I did speak to him I was always told you will be paid this week or on Monday/Friday etc.
We are now at the point where two monthS rent is owed on all the properties that is 8 months rent! Tenants have provided me with proof that they have paid on the 1st of each month so what has he done with our money?Something very sinister is going on at Kingsman Properties as Sam is clearly using our rent (£13,000 approx.) for his own purposes which is illegal. He has also not registered any of the tenants deposits with the required schemes which is another illegal practice - has he used all 16 deposits for his own purposes too? Probably yes!
I am in the midst of a complaint process with The Property Ombudsman over this as Sam avoids all contact with us via phone or email - this appears to be a ... (*Moderator note: Word removed*) .... he is running taking all rents on the 1st of the month to pay this pyramid scheme of investors that I have been told he has in place.
Be warned this man is not an honest person and I am in contact with other landlords who are in a worse situation than we are with him - DO NOT TRUST A WORD HE SAYS.
From their website it shows the logo's for mydeposit and TDS so they should be your 1st port of call Re: Deposits, 16 is a significant number if they haven't protected them, they could expose both themselves and you as the Landlord to hefty fines.
From 1st June 2019 they should have joined one of the government required Client Money Protection Schemes which there is no mention of on their site, so by default are trading now illegally if that is indeed the case.
The tenants have called each scheme and there is no record of them.
He does not have CMP or indeed a Client Account as he told me when questioned "He was not requested to have one with his business" - another false statement as anyone dealing with client money must have a client account.
Please keep us appraised - I now have a "live" court case jointly and severally against Kingsman Property Ltd and Samual Jaz Eustace. He has until 4th July to respond.
Good luck Karen I have everything crossed for you.
(*Moderator note: Content removed as against our T & C's*).
I've joined your boat to the sum of £60,000 - others have invested more.Regards