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  • Landlords in Distress

    Sam Eustace and Kingsman Property - Concerns

    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.

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    https://www.kingsman-property.com/

    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.

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    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.

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    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.

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    Good luck Karen I have everything crossed for you.

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    (*Moderator note: Content removed as against our T & C's*).

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    I am also a landlord letting a property to Sam and kingsman property. He owes me £7,000. I am hopping to take legal action. If you are already doing this I wondered if you could put me in touch with your solicitor? As they will already he familiar with the details.
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    Hi, there are many investors who are in similar situation. We have formed a WhatsApp group and hopefully working on taking collective action. Trying to find out how we were introduced to this route may help as well.  If you are interested in joining this WhatsApp group, please message me.
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    Firstly learner! This has just come to my attention. I believe I know who you are and you contacted myself and asked about my current investments! Do not look to aim your decision at myself! 

    I am Aaron an investor of kingsman property along with several family members of mine. 

    I too myself was introduced to Sam by another individual, but this was down to my own interest shown to this individual who I won’t name, as IT IS NOT THERE FAULT I agreed to his agreements! It was my choice not there’s! 

    You are correct in that individuals have been “CONNECTED” through myself because of there individual interest shown (no more than 3 individuals, so NOT a few!. These individuals asked about my experience, the returns, how it has gone for myself, and my experience alone! Which until around 3-4 months ago it was fine, as seen by others. Also others are even mentioning about there recommendations in the beginning.   

    If you wish to discuss further then I’m happy to discuss but I’ll make it very clear my name shan’t be thrown around as a point of blame! I was not forced to sign any agreement, nor my family or friends, we all chose to sign due to the high returns. I too do am owed investment, jointly too with family members. 

    Sam has a lot to answer for and money to owe but do not use my name as you way of venting everyone’s frustration and situation.

    I am not to blame for Sam failing his business!! I am not responsible for the tenants being treated poorly! I am not responsible for all investors signing there agreements! I am not  responsible for making the agreements an unsecured loan! 

    I believe I know who you are learner learner and shall be taking action against you unless my name is removed!
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    I've joined your boat to the sum of £60,000 - others have invested more.

    Regards

    Roses. x

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