Rogue agent: Ombudsman bans firm for 10 years over unpaid £181,000 award

In a shocking case of a rogue agent, a firm in Luton has been banned from The Property Ombudsman for ten years after failing to pay an award of £181,254 after it was found to have ‘deliberately’ not passed on substantial amounts of money to a landlord. Altavon Property Managemnet Ltd (APM), which was dissolved late last year but had been trading for three-and-a-half years prior to the award, was asked by a local landlord to manage 31 properties on their behalf based on a two-tier agreement. The landlord rented the properties to APM in return for a fixed return over a set period, leaving APM to manage and rent the properties to whoever they saw fit. By December 2016 APM was behind in rent payments to the tune of £57,000 and continued to miss payments, eventually leading the landlord to complain to TPO. Rogue agent After finding in the landlord’s favour, a large award was then agreed, based on the monies owed plus £200 for each missed payment and compensation for aggravation, distress and inconvenience. But APM failed to pay the award and, after being referred to its Disciplinary & Standards Committee, has now been expelled from TPO for ten…