A Glasgow agency has suddenly gone bust leaving employees redundant.
R&R Lets, based on Elderslie Street, has stopped trading due to their accounts being “overdue”, according to Companies House.
Four members of staff have lost their jobs as a result, while landlords and tenants are “in limbo”.
It comes as one anonymous Glasgow landlord claimed they are still owed rent money.
They also fear some tenants could be “left homeless” as property owners could be forced to quickly sell to cover mortgage payments.
They told the Glasgow Times: “For tenants, they are not sure what they should do. We are in limbo because they have paid the rent but landlords are not getting it right now.
“They are not sure what the home owner will decide to do.
“We have mortgages to pay, the lack of rent may lead landlords to sell up the property and leave the tenants potentially homeless soon.
“It’s not an ideal situation for both tenants and landlords.”
The landlord went on to claim that tenancy agreements, paperwork, and keys are no longer accessible while liquidators investigate.
This would mean a new letting agency is not able to take over as they don't have the necessary admin in place such as the tenancy contract, as well as electrical, gas, and energy certificates.
In emails seen the landlord was told by Azets, a specialist local accountants and business advisory group, that rental payments may still be collected but not given to the homeowner.
A spokesperson for Azets said: “We can confirm that James Fennessey and Blair Milne of Azets were appointed as joint provisional liquidators of R&R Lets (Scotland) Ltd on 22 January 2024.
“We are currently working with affected tenants and landlords to ensure the best possible outcome.”
The previous owners of R&R Lets refused to comment.
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