Letting Agent Closure: Advice for Affected Norwich Landlords and Tenants

We have been made aware that an independent Norwich letting agent has unexpectedly ceased trading, leaving many landlords and tenants high and dry.

At Arlington Park, we are assisting several landlords with transferring their managed properties and want to share some advice for anyone affected by the sudden closure of Tiili.

For Landlords Affected by Tiili's Closure

If your property was managed by Tiili and you are experiencing difficulties, here are the steps you can take to regain control:

• Reach out to your tenants promptly: Update them on the situation. Provide clear instructions for rent payments and emergency contacts. It is important to verify that the contact details in the tenancy agreement are still accurate.
• Ensure deposits are protected: Check they are within a tenancy deposit scheme such as the Tenancy Deposit Scheme (TDS), Deposit Protection Service (DPS), or MyDeposits. You can check and confirm this via the respective scheme websites. Once confirmed, coordinate with the scheme to update or transfer the deposits as needed.
• Keep detailed records: Document all communications with Tiili, your tenants, and any deposit schemes. This documentation will be invaluable for resolving disputes or clarifying payment histories.
• Report missing funds: If you are owed unpaid rent or suspect mishandled funds, contact the Property Redress Scheme (PRS), which Tiili was a member of. They can guide you on potential legal action or recovery processes.
• Find a reputable agent: Begin researching reputable letting agents in your area, such as Arlington Park Estate & Lettings Agency. Review their terms carefully, particularly regarding payment management and landlord communication practices. Look for transparency, read their reviews, and seek recommendations to avoid future issues.
• Reassure your tenants: Maintain clear and open communication. Reassure them about the safety of their deposits (if properly secured) and keep them updated on your next steps.
• Check your insurance: Review your landlord insurance to determine if it covers rent loss or disputes with letting agents. This could help ease any financial strain caused by the situation.

By following these steps, you can address immediate concerns and regain control of your property.

For Tenants Living in a Property Managed by Tiili

If you are currently renting a property that was managed by this agency, it is important to take the following steps:

• Contact your landlord directly: Do this as soon as possible to confirm where to send your rent during this interim period while they find a new management agent. Your landlord's contact details should be listed in your tenancy agreement and prescribed information.
• Do not pay rent to Tiili: If you are unable to reach your landlord, do not pay your rent to the agency as you normally would. Our advice is to set the rent aside in a separate bank account for the time being. This ensures the funds are available and ready to pay in full once your landlord gets in touch. Avoid the temptation to spend it: it is still legally due to your landlord.
• Check your deposit: If your deposit was secured properly, it is safe. We are currently working with the Tenancy Deposit Scheme (TDS) to transfer deposits for the landlords we are assisting.

You can check if and where your deposit is registered through the following links:

• Tenancy Deposit Scheme: Check here
• Deposit Protection Service: Check here
• MyDeposits: Check here

Once you have located your deposit, contact the relevant service to make them aware of the situation, so they can provide guidance and liaise with your landlord. If you have a Zero Deposit Guarantee, you should also reach out to them directly.

We hope you find this information useful, and wish you the very best of luck.