Upad - gone bust?

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    Upad - gone bust?

    Hi all,

    Has anyone heard from upad this week?

    Not picking up the phone, no callbacks, no response to messages, no password reset when I request one. They're also not responding to tweets.

    Looks like another one bites the dust. I did wonder about their new cost model and how they hoped to compete.

    At least you can't blame brexit for this one!

    #2
    Same problem - no phone repsonse, call backs, or any form of commuincation. Therie phoen said call back in 'office hours' at 11am monday morning - now it just takes messages!

    Same probelm with their only other 'tenant number'

    I think they have gone......

    Comment


      #3
      "We regret to inform you that Upad is no longer accepting new business. We would like to thank all our customers for their support over the last ten years."
      I am not a lawyer, nor am I licensed to provide any regulated advice. None of my posts should be treated as legal or financial advice.

      I do not answer questions through private messages which should be posted publicly on the forum.

      Comment


        #4
        Tenant fee ban?

        Comment


          #5
          Grrr.... I'm in the 'purchased a service before 1 October' group

          I've found my tenant, but didn't manage to get the set up service out of them before they folded. I've had to pay to do it elsewhere today.

          Is there anywhere to claim compensation from? I paid with a credit card, but I guess it's not considered 'consumer' credit?

          Comment


            #6
            Were the "advertising package" supposed to covered advertising until you get a tenant, as opposed to say advertising for X days? If so, I don't see why section 75 protection wouldn't cover it.
            I am not a lawyer, nor am I licensed to provide any regulated advice. None of my posts should be treated as legal or financial advice.

            I do not answer questions through private messages which should be posted publicly on the forum.

            Comment


              #7
              If you used a personal credit card and you run your property management yourself, then I don't see why you're not covered by section 75. If you used a company credit card and you have a company structure to manage your property, then probably not.

              It won't hurt to raise a claim anyway, they can only say no.

              Comment


                #8
                It's a shame, their website was slick and clear, they were helpful on the phone, they provided some useful online guides and education.

                But recently their pricing policy has gone through the roof, especially compared to their competitors. This was inevitable really, especially when you consider expensive London offices, seemingly quote a large team of staff on London wages.

                Hopefully some of their competitors are run more efficiently.

                Comment


                  #9
                  We were in the middle of trying to reference a new tentant. I phoned them 25 times this week, sent 8 emails, arranged a call back at 4pm on Wednesday but didn’t get one reply. I posted online that I thought they had gone bust to try and get some sort of reaction from them but got nothing!

                  In the end we had to start the referencing process with Open Rent. It says on the Upad website that they will be giving refunds to anyone who placed an advert after 1st Oct. I think we placed ours on the 28th Sept. Paid for referencing and Tenancy set-up. Dont think we will be seeing that money again but will try !

                  Comment


                    #10
                    Originally posted by security2 View Post
                    If you used a personal credit card and you run your property management yourself, then I don't see why you're not covered by section 75. If you used a company credit card and you have a company structure to manage your property, then probably not.

                    It won't hurt to raise a claim anyway, they can only say no.
                    Yes, that's my situation - personal credit card, not company. I've sent a claim anyway, let's see. I'd purchased a UChoose package and had the advertising and chosen a tenant, but didn't get to the Tenancy Set Up and Deposit bit before they folded. I guess I'm lucky in some ways that there isn't a deposit and first month's rent sitting in their accounts somewhere.

                    Comment


                      #11
                      I find it curious that someone was referencing a tenant, but hadn't referenced the agent. E.g. look at their last published accounts.

                      Also, as a technical point, Companies House shows their status as Active, so it is probably not technically correct to say they have gone bust, yet.

                      Comment


                        #12
                        According to their announcement, there are no longer any deposits sitting in their accounts; they have all been transferred to a custodial deposit protection scheme.

                        Comment


                          #13
                          The founder of Upad, James Davis, at the weekend that he recently spent 5 months recovering from an emergency heart operation and had “lost his drive.” It's also why he is selling up his other business's

                          Comment


                            #14
                            That I can understand. I suspect that he has spent little time with his 11 and 12 year old while running this business and has missed out on a lot of their formative years. I hope that he has the ability to spend more time with them now.

                            Comment


                              #15
                              Everyone will sympathise with that. Health and family first.

                              In fact, I suspect a lot of landlords are in the business in order to get a better work/life balance.

                              What is surprising is that he is just closing down the business. Surely the business has some value, the knowledgeable staff, the tech, the database of contacts. That must have been worth something to someone. Or perhaps not, it's possibly an indicator of the state of the online market.

                              Tough times ahead...

                              Comment

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