Rinlgley group logo
  • Home
  • Who We Are
    About Us Our People Awards Savings for Clients Results for Clients Green Management Strategies Market Overview Leasehold Reform Campaign Money Back Guarantee
  • What We Do
    • Block Management
      • Block Management Overview
      • for RTM Companies
      • for Freehold Management Companies
      • for Resident Management Companies
      • for Estates of Houses
      • for Freeholder Investors
      • Ground Rent Collection
      • How to Change Agent
      • Block Management Packages
      • Can't Afford an Agent?
      • Legal work & Tribunals
      • Section 20 Major Works
      • Ringley's Top 10 Tips
      • Staff on Site
      • Moving or Buying?
      • Report an Incident
    • Asset Management
      • Asset Management Overview
        • Asset Management Overview
        • Stabilised Assets
        • Project Monitoring
        • Mobilisation & Lease up
        • Asset Managers TechStack
        • Accounting & Reporting
        • Brands & URLs for sale
        • ESG Consultancy & Implementation
        • UK Build to Rent
        • UK Later Living
        • UK Coliving
        • UK Student Housing
        • BTR Smart PropTech
        • BTR Strategic Marketing
        • BTR Resident Experience
        • BTR Tenancy Management
        • Asset Management Clients
        • Site Finding/Digital Land Search
      • Law
        • Legal Services Overview
        • Our People
        • Recommendations
        • Right to Manage
        • Lease Extensions
        • Freehold Purchase
        • Absentee Freeholder
        • Court Appointed Manager
        • Conveyancing
        • Service Charge/Rent Arrears Recovery
        • Company Secretary
      • Valuation
        • Valuation Overview
        • Loan Security
        • Company Accounts
        • Lease Extensions
        • Freehold Purchase
        • Rent Reviews
        • Development Valuations
        • Insurance Valuations
        • Expert Witness & Litigation
        • Tax, Trusts & Accounts Valuations
        • Trading Business
        • Compulsory Purchase
        • Residential Valuations
      • Engineering
        • Engineering Overview
        • EWS1 Consultancy
        • Asbestos
        • Contract Administration
        • Fire Assesment
        • Homebuyer Survey
        • Building Survey
        • Schedules
        • Party Wall Matters
        • Principle Designer
        • Disability Access Audits
        • Small Building Works
      • Finance
        • Finance Overview
        • Get Accounts Quote
        • The Law & Property Accounts
        • Industry Update
        • To audit or Not?
      • Plant & Facilities Management
        • Plant & Facilities Management
        • Fire Door Inspection APP
      • Site Staffing Solutions
      • Leasehold Guidance
        • Leasehold Guidance Overview
        • Right to Manage
        • Buy Freehold
        • Court Appointed Manager
        • Absentee Freeholder
    • Insights
      Property Management Articles Property Management Blogs Rental Market Blogs Customer Comments FAQ - Ask Our Experts
    • E-books
    • Portal Login
    • Get In Touch
    • Clear Filter
    • Property Blog INDEX
    • PlanetRent Blog

    Your money is safe in our hands


    Responsive image


    All renters should be able to trust their agent to protect their money

    A key part of any property agent’s role is to safeguard money on behalf of their clients, who should be able to trust that they are properly protected. At Ringley, we are a member of the RICS Clients Money Protection Scheme which gives all our customers peace of mind that their rent and deposit monies are in safe hands. Unfortunately, a small number of agents out there flout the rules.

    So here’s a cautionary tale for anyone responsible for other people’s money. An Essex estate agent has been disqualified from managing companies for five years after she failed to safeguard £28,000 worth of tenants’ deposits and rent destined for landlords.

    Jane Hipkin Russell’s residential sales and lettings agency went into liquidation in August 2018. Investigators from the Insolvency Service found that Hipkin Russell, as sole director, had failed to comply with legislation requiring all tenant’s deposits to be placed in a recognised scheme.

    The company had no record of 11 tenants' deposits totalling £12,000 that had been received between March and August 2018. Nor had deposits received between April 2017 and August 2018 totalling £20,000, been paid into a government-backed statutory deposit protection scheme.

    In addition, the company collected just over £7,000 of rent from tenants between March and August 2018. This should have been paid over to the tenants’ landlords but had instead been spent on the general running costs of the business. In total there were more than £28,000 worth of losses to tenants and landlords.

    We hope this disqualification will serve as a deterrent to rogue agents who bring the whole of our sector into disrepute.



    12/02/2020
    Author : Mary-Anne Bowring

    Social
    Facebook Linkedin Twitter Blogger

    Subscription

    Keep up to date

    (Weekly, fortnightly or monthly)


    To find out more what we do with your data, please read our Privacy Policy


    Insights, Blogs, Research, E-Books

    Landlord blog bg

    Landlord blog
    Read landlord blog
    Property blog bg

    Property blogs
    Read property blogs
    Articles bg

    Property articles
    Read property articles
    E book

    E-books
    Read E-books
    Facebook footer Instagram footer Linkedin footer Twitter footer
    Facebook footer
    Instagram footer
    Linkedin footer
    Twitter footer
    • Ringley Group
    • About us
    • CSR
    • BusyLiving
    • PlanetRent
    • Fire door inspection
    • Talk to us
    • Careers
    • Ask a Question
    • Insight
    • Articles
    • Blogs
    • Subscribe
    • What we do
    • Asset Management
    • Block Management
    • Facilities Management
    • Property Law
    • Surveying / Valuation
    • Building Engineering
    • Financial Services
    • Managing Agents
    • Block Management Locations
    • Co-working
    • Offices
    • London
    • Ringley House
    • 1 Castle Road
    • London
    • NW1 8PR
    • T: 0207 267 2900
    • Manchester
    • 11 Swan Street
    • Northern Quarter
    • Manchester
    • M4 5JJ
    • T: 0330 174 7777
    • Cardiff
    • 122 Bute Street
    • Cardiff Bay
    • Cardiff
    • CF10 5AE
    • T: 0330 174 7747
    • Email: solutions@ringley.co.uk
    • Emergency line 1: 0207 428 2056
    • Emergency line 2: 0207 267 2900
    • Report incident
    Privacy Policy
    Ringley Staff
    Ifsm Irpm member New iso Arla licensed Ombudsman services Rics vertical Gbc

    All content © copyright 2022. Ringley Limited. All Rights reserved. Ringley Limited, incorporated and registered in England and wales. Registered office: Ringley House, 1 Castle Road, London, NW1 8PR. Company No. 03302438
    Terms of use | Privacy Policy | Modern slavery act | COVID-19 risk assessment