Landlords and tenants are again being warned to ensure that their deposit money is administered by a reputable agent.

The collapse of Joseph Newman Letting & Estate Agents in Canterbury has left landlords and tenants out of pocket to the tune of over £400,000 in lost deposits after it became apparent that the deposits weren't held securely in one of the three deposit schemes. The liquidators are quoted as saying "It appears that these deposits were utilised to fund the company’s loss-making trading"

The case strengthens the call for regulation of the letting industry, and raises questions about the policing of the Tenancy Deposit Scheme.

Jonathan Detheridge from GO Property Services commented "As ever, we would urge landlords and tenants to only use a licensed letting agent as they are then assured of client money protection. Arla Licensed Agents are audited annually by ICAEW or ACCA accountants and also have to be insured to hold client funds. We would urge all landlords and tenants to request proof from their letting agent that their money is sufficiently protected"

GO Property Services are Estate Agents & Letting Agents in Nottingham. We are members of ARLA & the NAEA and have a reputation for providing a high quality service that is competitively priced.

LATEST NEWS

  • Annoyingly, The Bubble is Back!

    21/07/2021

    As the country starts to tentatively return to normal following the relaxation of Social Distancing rules, the ‘Pingdemic’ created by the Track & Trace App is  wreaking havoc with READ MORE

  • Early Closing Tuesday 29th June

    25/06/2021

    On Tuesday, Englands football team play Germany in the Euro 2020 competition. To allow our team here to join in with the occasion we're closing early so everyone can get home and get their facepaint READ MORE

  • We're Recruiting Now!

    16/03/2021

    Granger & Oaks specialise in managing quality rental property across Greater Nottingham and we’re now looking to recruit a self-motivated individual to carry out accompanied viewings and READ MORE

View all news
-->