We all understand that there were some rogue landlords that made things tricky for tenants regarding their deposits. We even kind of understand why the government intervened with its approved tenant deposit scheme but it is interesting to see that even they do not get it right all of the time.
Last month, one of the governments approved agencies collapsed and went into liquidation owing a whopping 382,000 pounds, largely made up of tenants’ deposits.
Stephen Greenwood had apparently been in business 36 years prior to this fall from grace. The company gave the recession and the failure of a large Spanish investment as reasons for their liquidisation.
Of course, we all have a lot of sympathy for this as many of us have experienced the hardships that have come with this recession. We wish the Rugby estate agency firm that has taken over his properties, Craig Walford, the best of luck.
He seems to be doing the best he can by the existing tenants, having worked 23 hours day in the initial stages to get things up and running and has now opened the doors to the former Greenwood’s office to accommodate the extra business.
