Glasgow agency goes bust leaving employees redundant

R&R Lets, based on Elderslie Street, has stopped trading with its accounts being “overdue”, according to Companies House.

Four members of staff have lost their jobs as a result, while landlords and tenants are “in limbo”.

It comes as one anonymous Glasgow landlord claimed they are still owed rent money. 

The company is based in Glasgow (Image: Sourced)

They told the Glasgow Times: “For tenants, they are not sure what they should do. We are in limbo because they have paid the rent but landlords are not getting it right now. 

“They are not sure what the homeowner will decide to do.

“We have mortgages to pay, the lack of rent may lead landlords to sell up the property and leave the tenants potentially homeless soon. 

“It’s not an ideal situation for both tenants and landlords.”

The landlord went on to claim that tenancy agreements, paperwork, and keys are no longer accessible while liquidators investigate.

This would mean a new letting agency is not able to take over as they don't have the necessary admin in place such as the tenancy contract, as well as electrical, gas, and energy certificates.
The company has closed (Image: Newsquest)

In emails seen by the Glasgow Times, the landlord was told by Azets, a specialist local accountant and business advisory group, that rental payments may still be collected but not given to the homeowner.

A spokesperson for Azets said: “We can confirm that James Fennessey and Blair Milne of Azets were appointed as joint provisional liquidators of R&R Lets (Scotland) Ltd on January 22, 2024. 

“We are currently working with affected tenants and landlords to ensure the best possible outcome.”

The Glasgow Times reached out to the previous owner of R&R Lets which refused to comment.