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TODAY'S OTHER NEWS

Defunct online agency snapped up by PropTech rival

A trade magazine is reporting that online lettings agency Upad has been bought out by a PropTech platform.

The Negotiator says Howsy has bought former rival Upad and will run the business separately, 

Upad went into liquidation in September after founder James Davis said ill health had led him to discontinue the business.

Its staff were made redundant a month later.

A notice on Upad’s website in September suddenly revealed that it had closed after more than 10 years; founder James Davis had major heart surgery in 2018 and chose to shut down the operation rather than sell it.

The notice said that Upad landlords who not found a tenant would be refunded “in due course”.

Tenants and landlords were told that deposits were protected by the Tenancy Deposit Service and that rents already collected would be paid to landlords.

Several rival agencies stepped in with offers to stranded landlords and tenants.

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