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PurpleBricks screws up the basics


eek

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3 hours ago, eek said:

Purplebricks shares plunge in wake of tenancy law breaches (telegraph.co.uk)

It seems they have utterly failed to follow the processes for protecting tenancy deposits and now have a liability of £2-30m (estimate is that large as it depends on the number of people who find out and claim the money back)



The latest problem relates to the company failing to alert tenants that their deposits had been placed in a protection scheme. A failure to inform tenants within 30 days means they are able to claim back up to three times the value of the deposit, up to six years after the event.

The Telegraph newspaper, which first reported the lettings process issue, estimated that costs could run as high as £30m if every eligible tenant pursued a full claim, but Purplebricks pushed back against that figure. “We believe the financial impact of this to be significantly lower than has been suggested,” it said.

Why wouldn't a tenant pursue that claim? They been fucked over for years.

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AngryFromManchester
 
6 HOURS AGO
 
This outfit give the impression of being a complete shambles.  I understand Neil Woodford's funds were quite significant stakeholders.
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I can see the ambulance chasers getting on to it now.... wouldn't be surprised to see the claims at the higher end of their estimate.

The move to make self-employed people salaried staff could not have come at a worse time, as listings have dried up.

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10 hours ago, Boon said:

I can see the ambulance chasers getting on to it now.... wouldn't be surprised to see the claims at the higher end of their estimate.

The move to make self-employed people salaried staff could not have come at a worse time, as listings have dried up.

Even I spent 5 minutes working out how to get on what would be a very easy gravy train. 

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