Letting Agents Close Owing Landlords and Tenants Cash

Letting Agents Close Owing Landlords and Tenants Cash

16:52 PM, 24th January 2012, About 13 years ago 42

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Midlands landlords are chasing rents and deposits from a letting agent who suddenly closed for business.

Police are looking at the demise of Baxter Todd, a letting agency with offices in Warwick, Leamington Spa, Coventry and Stratford-on-Avon.

The offices are closed, phone lines have been disconnected and emails go unanswered – although the firm’s website is still live.

One landlord raised the alarm in the local media after losing almost £1,000 in tenant deposits for two properties.

Alma Coleman claimed the firm promised to return the deposits on closing, but the money has not been paid.

“I have been a landlord for 20 years without problems. Sometimes a tenant ups and leaves but never a letting agent,” she said.

“I was with Baxter Todd for 18 months and there were no issues until now. This should act as a warning to other landlords of what might happen to them if they are not careful.

“I have tried to speak to the owners of the company but no one seems to know how they can be contacted or why I have not had the money returned to me as I was promised.”

Baxter Todd is not listed on the directories of the two main letting agent client money protection schemes run by the Association of residential Letting Agents (ARLA) or SafeAgent.

Another disgruntled landlord, Claire Wightman, told local reporters: “My husband and I were clients of Baxter Todd and had a truly appalling experience with them.

“We are also owed money – several hundred pounds – by the company but are unable to contact them. We are contemplating legal action.”

The agency is a previous winner of the Best of Warwick Award for exceptional customer service.

Baxtertood Property Ltd, incorporated in August 2010, has a registered office at 1 Market Place, Warwick. No accounts or company returns have been filed with Companies House and the directors have made an application to strike off the company.

A previous business partnership, Baxtertodd LLP was registered at the same address but was dissolved in March 2011without filing any accounts.

Director Carl Baxter was unavailable for comment.


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11:30 AM, 26th January 2012, About 13 years ago

My husband and I made an application to Companies House to have the striking off and dissolution order suspended on the basis that we have pending litigation against Carl Baxter/Baxtertodd.  Companies House has advised us this morning that based on the evidence we supplied, the action has been suspended until 26/07/12. 
Claire Wightman.

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12:03 PM, 26th January 2012, About 13 years ago

All these issues highlight the fact that rent and deposit monies should always be paid direct to the LL.
NEVER let a LA get their sticky fingers on any monies concerning the tenant.
I am afraid LA are going to have to change the way they do business as more LL stop allowing LA to receive monies from their tenants.
If they don't the LL will terminate the business realtionships.
mydeposits is the ONLY scheme that LL should use.
This is the only one where you the LL holds the actual monies.
£30 per deposit protection is peanuts.
Of  course LA don't like this scheme as every time they sqeeze a fee out tenant for AST renewal they would have to pay a fee of £30.00
The other schemes don't require as far as I am aware any fee..

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17:30 PM, 26th January 2012, About 13 years ago

Before everyone jumps to conclusions, this happenned to my company in May 2010. What started out well enough fell apart in August 2008 when I found myself involved in a complex divorce.

I had people (including the Leamington Courrier) accusing me of walking off with some £200,000 in rent and deposits however it has now been proven by a local firm of accountants, the fraud squad and the Insolvency Service that I just made a complete hash of things.

Whilst it is possible something dodgy has taken place, there is an alternative. With a lack of management (my fault), my staff were paying out rent to Landlords without making sure it was coming in from students. As such, the company ran out of money.

To this day I continue to help former clients recover their money through the County Court system. For the most part, this is simply a case of attending as a witness to explain how the various situations arose. The accounting work has been complied by SJ Accountancy Services / SJ Estates (http://www.sjestates.uk.com).

If it turns out something illegal has taken place, then there will no doubt be criminal proceedings brought against the directors. In the meantime, just think it might not be as bad as it looks.

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18:35 PM, 26th January 2012, About 13 years ago

Hi Claire,

It might be worth you contacting Stephen Hughes on 01926 336 220. He helped a number of my former landlords recover outstanding money when my company went under, and now manages their accounts & their properties.

A couple of former clients went on to Baxter Todd. I feel sorry for those guys as they have now been stung twice!

Adam

(reasons for my company's demise are here - http://ceo.smartergroup.biz/rip-smarter-housing-2005-2010/ - nothing illegal, just a complete balls up).

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18:47 PM, 26th January 2012, About 13 years ago

Hi Claire,

It might be worth you contacting Stephen Hughes on 01926 336 220. He helped a number of my former landlords recover outstanding money when my company went under, and now manages their accounts & their properties.

A couple of former clients went on to Baxter Todd. I feel sorry for those guys as they have now been stung twice!

Adam

(reasons for my company's demise are here - http://ceo.smartergroup.biz/rip-smarter-housing-2005-2010/ - nothing illegal, just a complete balls up).

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18:50 PM, 26th January 2012, About 13 years ago

Hi Claire,

It might be worth you contacting Stephen Hughes on 01926 336 220. He helped a number of my former landlords recover outstanding money when my company went under, and now manages their accounts & their properties.

A couple of former clients went on to Baxter Todd. I feel sorry for those guys as they have now been stung twice!

Adam

(reasons for my company's demise are here - http://ceo.smartergroup.biz/rip-smarter-housing-2005-2010/ - nothing illegal, just a complete balls up).

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8:09 AM, 27th January 2012, About 13 years ago

Thank you.  My husband is a qualified Barrister so we will litigate this ourselves, but I am very grateful for your suggestion.

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12:43 PM, 27th January 2012, About 13 years ago

Hi Chris,

You'll need to speak with the Landlord. Whilst it may not be their fault, by law they will be responsible for returning it to you.

Just bear in mind they have probably lost out also - so be patient with them while they gather the money together!

I've thrown up some additional advice on my blog....

http://ceo.smartergroup.biz/baxter-todd-letting-agency-missing-in-action/ 

Good luck,

Adam

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12:44 PM, 27th January 2012, About 13 years ago

Hi Chris,
I've thrown up some advice on my blog:

http://ceo.smartergroup.biz/baxter-todd-letting-agency-missing-in-action/ 

In short, it will be up to the Landlord to return your deposit. If you don't have his/her details I can help with that.

If you do have their details, be patient with them. The chances are they have been stung too and might need some time to gather the necessary funds.

Good luck,

Adam

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12:45 PM, 27th January 2012, About 13 years ago

It's possible, but unlikely given the circumstances and the fact one Landlord managed to get away with it by securing the deposit the day before his High Court appearance. Legal precedents and all that...

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