The online letting agency Upad has announced it is no longer taking new business and its imminent closure over the weekend.
Upad, which was established in 2008 by former landlord James Davis, posted a message to its website informing visitors of its decision and the page no longer shows its products or services.
The message read: “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 10 years.”
It is believed the business will not enter administration but simply shut down.
Upad was an NLA Recognised Supplier. However, the NLA said it accepts no responsibility for the operations of any recognised supplier. The NLA added it will provide guidance to any member who has been affected by this closure via the Telephone Advice Line.
It is believed that around 450 landlords will be affected by Upad’s closure.