Several lettings agencies have stepped up to offer help to stranded customers of the collapsed online service Upad.
A notice on Upad’s website over the weekend revealed that it had closed after more than 10 years; the decision to close the agency was taken by founder James Davis who had major heart surgery last year and chose to shut down the operation rather than sell it.
The notice said that Upad landlords who not found a tenant since October 1 would be refunded “in due course” but that those who signed up before this month would not.
Tenants and landlords were told that deposits were protected by the Tenancy Deposit Service and that rents already collected would be paid to landlords, without a specific timeframe.
Now other agencies have stepped up.
Leicester lettings agency Harry Albert Property came to Twitter to say: “We did say we'd blow them out of the water... Ah well, for #landlords with #Property in Leicester affected by the demise of #Upad, we're offering two months FREE management. Just call.”
Vijay Vashistha, co-founder of national online service - 99homes - told Letting Agent Today over the weekend: “We are really sorry to hear that uPad not trading anymore. Sad news for the staff and of course for the customers who will be wondering what's going on. At 99home, we will do what we can to help all of these customers and ensure they get service continuation. 99home is happy to list Upad current customer's property for free. Terms apply.”
Another online platform - Howsy - put a notice on its website on Saturday evening. It read: “We’re sorry to hear that Upad has closed its virtual doors. We can imagine how stressful this must be for everyone involved. Whether you are still looking for a tenant, in the process of getting someone in or already have a renter in place, then we can help. Whatever stage you are at, we can help make sure your property investment continues to deliver for you.”
Letting Agent Today broke the Upad story on Saturday - you can see the original story plus Upad’s advice to clients here.