Croydon
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Regional Reports
Rochford, Stafford and Croydon
Each month we visit three agents across the country to discover what is happening in their local market. This month we meet members of the Guild of Property Professionals in Rochford, Stafford and Croydon.
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Latest property news
Over 60% of tenants offered insurance-based rental deposits take it up
Over sixty percent of tenants offered an insurance rather than cash-based rental deposit scheme at one of London’s largest new-build rental apartment developments have chosen to do so, it has been claimed. Criterion Capital, one of the UK’s largest Built-to-Rent operators and a major client of letting agent the Acorn Group, has made the claim for the first phase of its Delta Point scheme in Croydon, which eventually will bring 404 rental units to the market. The service is being provided by Zero Deposit, the Stevenage-based proptech firm co-founded by Jon Notley. “There is no question that Zero Deposit is helping to make our properties more attractive to potential tenants, speeding up the process and resulting in happier tenants when they move in,” says Karl Elliott, Head of Portfolio at Criterion Capital. Rental deposit Acorn Group, which includes four agent brands – Langford Russell, John Payne, Unique and Acorn – is one of South East London’s larger agency groups and has a total of 31 offices. All of these have now rolled out the Zero Deposit product. The agency was one of the four industry big hitters to give Zero Deposit its backing in February alongside Connells, LSL and Knight Frank.…
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Latest property news
Rogue letting agent jailed after stealing holding deposits worth £15,000
A “thoroughly dishonest” rogue letting agent in Croydon, South London has been jailed for failing to pay back holding deposits often for the same property and totalling £15,000 following a two-week trial. Thirugnanaselvam Damayantharan, also known as Mr Damo, was sentenced to 19 months in jail for the offences, which included taking multiple deposits for the same property, letting properties he had no authority to do so and failing to return deposits when tenancies fell through, despite being through no fault of the tenant. At the court hearing the letting agent denied two counts of fraudulently trading as two companies – See Own Properties and My Lawn Estates – over the past six years, although the unreturned holdings deposits related to 33 properties. See Own Properties, which is still trading but the annual accounts for which are overdue, is registered at a Regus office facility in central Croydon (pictured, left). My Lawn Estates, which advertised on Rightmove but has now been removed but is still listed as ‘active’ at Companies House, was expelled from The Property Ombudsman in 2015 for two years. During the case, which was brought by Croydon Council Trading Standards, the court heard that Damayantharan, who was…
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Features
Regional round-up
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we visit Kent, London and the Isle of Wight.
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