The letting agent which used to manage hundreds of properties for the UK’s best known private landlord, Fergus Wilson, has gone out of business.
According to Companies House, Property Letting Services in Folkestone, Kent, was dissolved via voluntary strike-off on July 31.
Micro accounts covering the period from November 1, 2016, to March 31, 2018, were posted earlier this year but give sparse information.
Wilson said that in its last year of looking after his properties, the family business made a profit of £695,000, dropping to £95,000 12 months later, and afterwards falling into a trading loss.
In April 2014, in a high-profile court case Wilson was convicted of punching an employee in the face over a year earlier, in January 2013, over an issue relating to a boiler.
During the hearing, the court heard that Wilson and his wife Judith had paid Property Letting Services to manage 280 of their properties, but began taking away properties in March 2012 because of concerns.
In the summer of 2012, the couple told the firm they intended to remove all their properties by the end of the year.
Wilson told the district judge that this would have cost Property Letting Services an estimated £300,000 annually.
He told EYE yesterday that the firm had employed inexperienced juniors, and that there was wisdom in “not biting the hand that feeds you”.
Technically-they were biting the hand that thumped them and that is understandable
It’s sad for both Mr. and Mrs. Wilson that Mr. Wilson denies them the respect they ought to enjoy.
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Clearly greed got the better of commonsense. Fancy putting all your eggs in the Wilson’s basket. A rather obvious outcome when the inevitable occurred.
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Hiring inexperienced juniors isn’t a reason to take your business away. It’s how you get experienced juniors and seniors. Just having inexperienced juniors working on an account that size however…
I have a couple of large clients that make up the bulk of my managed properties, and I certainly would be in trouble if they went elsewhere, so I try to make sure there is never a reason for them to want to.
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