“Breathtaking” £400,000 letting agent theft proves urgency renting reform

The case of a Tyneside letting agent jailed after stealing almost half-a-million pounds from her employers proves the need for urgent change in the rental industry – that’s the verdict of one leading property boss.

Rental manager Angela Clift was this week jailed for two years after pocketing £400,000 she was supposed to be collecting on behalf of landlords for Newcastle property firm Keith Pattinson – in what the judge described as “breathtaking” offending.

Police seized expensive handbags, clothing, footwear, jewellery and a sports car from her and her partner’s homes after colleagues became suspicious when Clift had a pair of £500 sunglasses delivered to work.

Property expert and anti-deposit campaigner Ajay Jagota believes the case shows the need for change in an industry where an estimated £500m of rental deposits are believed to be illegally held.

The founder of sales and lettings firm KIS and insurance-backed deposit-free renting solution Dlighted said:

“Although I wasn’t in court to hear the exact details of this case, incidents like these are the inevitable outcome of an industry where too much money is flowing around unnecessarily with inadequate oversight over where it ends up.

“You’ve got tenants handing over hundreds and thousands of pounds in deposits and rent, and landlords acting in good faith that it will be money will dealt with appropriately. Of course most agents do just that, but five minutes on Google will show you that that is not always the case.

“We’re not just talking about a few quid here and there. We’ve got £500m of rental deposits apparently held illegally and firms collapsing owing hundreds of thousands of pounds – sometimes having been given a clean bill of health by industry watchdogs. And those are just the cases were hear about. That can’t be right.

“The simplest solution is to stop taking deposits and move to an insurance-backed model. It’s not just that it works perfectly well in other industries, it’s that you’ think it was ludicrous if people did it any other way. If you rent a car, you don’t hand over hundreds of pounds before you’re given the keys on the understanding that you’re guaranteed to crash it!

“The overall value of UK rental deposits is estimate to be £3.2bn. Having people handing over so much cash to an under-regulated industry is something which can’t continue – not when there are simple and effective solutions under our noses.”

d_lighted, an insurance backed deposit-free renting solution which slashes the costs of tenants finding homes and landlords finding tenants.

KIS were the first letting agents in the UK to abolish deposits, replacing them with a one-of-a-kind landlord insurance policy offering guaranteed rent, deposit replacement, legal assistance and round the clock third party emergency home repairs.

Alex Evans

You May Also Enjoy

Estate Agents should not all look the same
Estate Agent Talk

How to Become an Estate Agent with No Experience

Breaking into the property industry can seem intimidating – especially if you’ve never worked in it before. But the good news? You don’t need years of experience or fancy qualifications to start a career as an estate agent in the UK. In fact, many successful estate agents started with no background in property at all.…
Read More
buying at auction uk
Estate Agent Talk

9 Advantages of Selling Your House by Auction

Selling your house by auction might seem like a daunting prospect, but it comes with numerous advantages that can make it a highly attractive option. While the traditional method of selling through an estate agent has its place, auctions are increasingly becoming a popular choice for homeowners looking for a swift and reliable sale. Here…
Read More
Breaking News

Majority of Tenants Unsure How Changes Will Affect Them, Says LRG

With major changes to the private rental sector on the horizon, 62% of tenants say they don’t know whether the government’s Renters’ Rights Bill will address their concerns – highlighting a growing need for clearer communication around what the reforms will mean in practice. LRG’s latest Lettings Report shows that while landlords are widely aware…
Read More
Home and Living

Perfume Storage Tips: How to Keep Your Fragrances Fresh

Perfumes are sensitive compositions that can be significantly affected by how they are stored. Proper storage ensures that your favorite fragrances stay fresh and maintain their intended scent profile. In this article, we’ll explore practical, fun, and effective tips to help you preserve your perfumes in perfect condition. Understanding the Sensitivity of Perfumes Perfumes are…
Read More
Breaking News

Renters’ Rights Bill Delay Causing Uncertainty for Tenants and Landlords

Ministers need to tell landlords and tenants when measures in the Renters’ Rights Bill will take effect the National Residential Landlords Association (NRLA) is today warning. The Government pledged last year to abolish Section 21 ‘no explanation’ repossessions and to make other changes to the rental market this summer. With the Bill not scheduled to…
Read More
Breaking News

Breaking Property News 02/04/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Made Snappy 360 appoints new CEO and Sales Director to accelerate growth in the property technology space Made Snappy 360, the fast-growing proptech company known for its virtual tours and floor plan technology, has appointed industry veteran Mark Beresford-Ward as its new Chief Executive…
Read More