Upad have closed, what do I do now?

Upad have closed, what do I do now?

Upad have officially confirmed that they have closed.

**Note: We’re keeping this post updated as new information comes through**

We are truly sorry to hear that Upad are no longer trading, they provided a great service and wanted, like us, to make a difference to an industry plagued with poor quality agents and rip off fees.

We suspect they were a victim of the ‘perfect storm’ that’s affecting many agents around the country… Brexit reducing tenant levels, we’re entering the quieter time of year, landlords selling up which is reducing the number of properties available to market and the final nail in the coffin from the government in the form of the tenant fee ban! It also looks like there was just too much borrowing but who knows, I guess in time we’ll find out what really happened.

What do I do next?

I’m sure many of Upad’s landlords will now be wondering what to do next? Some may still be looking for tenants, others mid tenancy set-up, and others with tenants already in situ, with or without a managed service.

For all of those landlords, we are here to help if we can.

Our service is very similar to that of Upad, and we can assist you with everything and anything you need from a simple contract, to a stress free take-over of your existing property management or rent collection service.

If you already have an existing management or rent collection contract with Upad, we’ll transfer you, free of charge, to our service.

You can still log into your console to download images and your property descriptions along with any other account related information. We recommend that you do this as soon as possible, to ensure you regain all of your data.

Click here to log in to your Upad console.

To answer a few of the questions you’re bound to be wondering about us …

1. Are we any good? The reviews speak for themselves. In fact, we are the highest rated online letting agent according to Trustpilot. You can read all of our reviews here.

2. What’s stopping you going out of business? We’ve been in business since late 2011, and provide a full range of services at a fair price. We aren’t “bargain basement”, and have absolutely no intention of being so. We’ve seen many many online agents come and go over the years; the race to the bottom is not the way to go if you want a stable business.

We, unlike many online agents, don’t owe money to anyone; not lenders, not private investors, not even to our founding members. Because we have no debt, and are careful to make sure we don’t over-exceed ourselves, you can be sure we’ll be with you for the long run.

The fact is, the lettings industry is in a bit of turmoil at the moment, there are many well known high street agents putting out profit warnings and struggling to cope with all the new legislation and drop in demand. There are more casualties to come over the next few months/years and we don’t intend on being one of them.

We believe in a good service at a fair price, simple as that. We let hundreds of properties every month and manage properties all over the country.

3. What are my options?

We’re still in the early planning stages as this news has only just broken, but we’re going to take each Upad landlord on a case-by-case basis. We’ll take into account where you are in the Upad process, and work out an individual price for each of you depending on what’s been done, what paperwork you have and what remains to be done.

Obviously this is going to require us talking to each of you individually so please bear with us while we work through the load. We’ll also need to take into account the urgency of each case, so again please bear with us as we’ll need to deal with priority cases first. We will contact every single one of you that contacts us though.

The easiest way to get your details over to us, is just to drop us an email to info@theonlinelettingagents.co.uk with the subject ‘Upad Assistance’. Tell us what service you paid for, what has already been completed and what else needs doing. If you have a deadline that would be really helpful to know as well.

Alternatively, give us a call on 03300 883973 during office hours and we’ll happily give you as much help as we possibly can.

Free Management and Rent Collection Transfers

If you already have an existing management or rent collection contract with Upad, we’ll offer you a free transfer to our services.

Simply “purchase” for free our Management Transfer Service and you’ll get emailed a unique link to upload your property details to us. We’ll waive the £200 setup fee for all existing Upad management clients.

Once we’ve received everything, we’ll contact you to get copies of your Upad inventory, contract, tenant details etc and organise the switchover. We make the whole process simple and painless!

Click here to see all of our advertising and management packages.

Just to point out the obvious, we have no affiliation with Upad and have no idea what’s going on with them. We can’t tell you whats happening with any money you’ve paid them nor can we give you any advice on how to get it back!

You can get see a full range of our services by visiting our website.

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