John Sanderson, the agent shown in an apparently damning BBC Watchdog programme last week, has put out a long statement online.
The statement says: “At the time it was established, Lancaster Property Network (Management) Limited (LPNM) was designed to act in the interests of landlords, to maximize their rental income and minimize administrative workload, providing a seamless service for landlords and students alike.
“The business has over 15 years’ experience in the student market, serving over 40 landlords and 5,000 students in that time.
“Unfortunately, the student housing market experienced unprecedented changes in 2014/15, which impacted LPNM’s business model as well as all other student accommodation providers as there were circa 1,250 empty bedrooms or £4.75m of uncollected rent in Lancaster.
“An influx of new developments and a reduction in student numbers in the region led to an over capacity of housing stock and created significant voids in LPNM’s portfolio.
“The business also experienced high levels of student rent arrears
“Despite significant financial investment into LPNM, the business was no longer able to honour the levels of guaranteed income agreed with the landlords.
“Every effort was made to remedy the situation however the business went into liquidation proceedings on 10th September 2015.”
The statement then goes on to give specific information on some of the cases raised in the Rogue Traders segment of the programme, including that of elderly landlord Mrs Irena Mackow.
It was Mrs Mackow, 78, who visited Sanderson’s offices with an undercover reporter. She said she was owed £10,000 and had received £3,000.
Sanderson said he had not received the money from the student tenants, but the students confirmed that he had.
During the secretly filmed Watchdog meeting with Mrs Mackow, Sanderson was asked by her where the money had gone.
He responded by saying: “How dare you? How very dare you? I nearly died over this and I’ll show you when…died.”
He also demanded, apparently ironically: “Would you like to see my Ferrari outside, I was in the south of France…”
Presenter Matt Allwright pointed out that Sanderson actually has a personally registered Jaguar.
The full statement can be found here
The BBC Watchdog programme can be seen here
Sanderson has also said he will co-operate with any police inquiry.
Comments (7)
Mr Sanderson please contact me urgently I have a vacancy for a lettings manager.
so landlords getting offered something that seems to good to be true…….by someone with no track record………a history of issues with other companies……. Do the landlords not actually think about who they are giving the property to and the ‘guaranteed rent ‘ they are being offered.
“Despite significant financial investment into LPNM, the business was no longer able to honour the levels of guaranteed income agreed with the landlords”
Risky enough offering a guaranteed rent scheme but doing it with student accommodation is just foolhardy if he can’t fill all of the rooms.
I last had dealings with him 10 years ago. Really nice bloke if your giving him money. He refused to let me leave by blocking his office door until I agreed to fix something. Only when I got my phone out to call the police did he let me leave.
Just look at his company’s house records and see how his business model fails every time.
The guy is a fruitcake and should be locked up – or at the very least banned from being a company director.
His behavior was crazy, he should not be dealing with the public. It was like watching ‘The Office’ I wondered if it was real.
He’s real alright! I know him and he’s a fruit loop!