The online lettings agency Upad has this weekend published an immediate closure announcement on its website.

It reads: “We regret to inform you that Upad is no longer accepting new business. We would like to thank all our customers for their support over the last ten years.”

Upad started its online lettings service in 2007 and is thought to have employed around 20 staff; earlier this year it introduced revised payment packages for landlords, payment via Direct Debit and an alternative deposit system. 

Most recently it charged a £449 core fee only when the tenant signed a contract.

On its website this weekend it advises customers that queries should be sent to [email protected] “and we will deal with your email as soon as possible.”

It also includes these statements for tenants and landlords:

FAQs for tenants

Q: I’m a Upad tenant. What will happen to my deposit? 

A: Your deposit is protected by a government approved tenancy deposit scheme – TDS www.tenancydepositscheme.com/tenants-FAQs.html. We have transferred tenants’ deposits held by us to TDS. If your tenancy has ended, please contact your landlord to agree the deductions from the deposit. 

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Q: I pay my rent to Upad. What will happen to that process in future? 

A: Any rent already collected by us will be promptly paid over to the landlord on receipt. We hold all client money in a strictly segregated account, separate from our own funds. We will stop collecting rent by direct debit after 10 October 2019 so you should contact your landlord directly to make alternative arrangements for future rents to be paid. 

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Q: I am in the process of agreeing a tenancy for a new property. What should I do? 

A: Please contact the landlord directly, if you have their contact details, or wait for them to get in touch with you. 

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FAQs for landlords

Q: I have an ongoing tenancy administered by Upad. What will happen to my tenant’s deposit? 

A: The deposit is protected by a government approved tenancy deposit scheme (TDS). We have transferred all deposits held by us into their custodial scheme. 

If you need further information about the deposit, you can access this via the TDS website by entering the tenancy details here https://www.tenancydepositscheme.com/is-my-deposit-protected.html 

At the end of the tenancy, you will negotiate any deductions directly with your tenant and then give authority to the deposit scheme administrators for the deposit to be released, subject to the rules of the scheme. 

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Q: Upad are collecting rent from my tenant. What will happen to that process in future? 

A: Any rent already collected by us will be promptly paid over to you on receipt. We hold all client money in a strictly segregated account, separate from our own funds. We will stop collecting rent by direct debit after 10 October 2019 so you should contact your tenant directly to make alternative arrangements for future rents to be paid. 

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Q: I have paid for a Upad advertising package and haven’t yet found a tenant. 

A: We are sorry that we have not been able to find you a tenant. If you have purchased a Upad package since 1 October 2019 then we will be refunding you in due course. If you purchased a Upad package prior to that date, we regret that we cannot offer a refund. 

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Q: I am in the process of agreeing a tenancy for a new property. What should I do? 

A: Please contact the tenant directly to conclude negotiations.