London Letting Agents Missing £400000

A London letting agency has allegedly gone into administration owing £400,000 to over 100 landlords for tenants’ rent. The company offered landlords a guaranteed rent scheme on properties and in 2013 the company managed over 700 properties.

At Glenham, we are members of ARLA, which is the professional and regulatory body for letting agents in the UK, and as members we agree to comply with the professional standards outlined within the ARLA Byelaws and Code of Practice. As part of the membership of ARLA, there is a Client Money Protection (CMP) Scheme which compensates landlords if a member misappropriates the rent, deposit or other client funds. As well as operating to professional standards, our membership to ARLA protects landlords for potential losses as highlighted above with the London letting agency.

Glenham are committed to providing landlords with not only a professional service but peace of mind that their money is safe with us.