{"id":50224,"date":"2018-12-14T15:45:25","date_gmt":"2018-12-14T15:45:25","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=50224"},"modified":"2019-02-07T09:58:43","modified_gmt":"2019-02-07T09:58:43","slug":"lettings-management-boss-banned-absuing-tenants-deposits","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/lettings-management-boss-banned-absuing-tenants-deposits\/50224\/","title":{"rendered":"Dorset lettings boss banned for abusing tenant’s deposits"},"content":{"rendered":"
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Lettings management director, Kari Jade Ridout has been banned from management for six years after failing to protect tenant’s deposits<\/h1>\n<\/div>\n<\/div>\n
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Kari Jade Ridout (46), from Blandford Forum, Dorset, was the sole director of Woodhouse Residential Lettings Limited, a lettings management company that began trading in 2013 in the Dorset area.<\/p>\n<\/div>\n<\/div>\n

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Woodhouse Residential Lettings provided a government-backed custodial deposit scheme in accordance with the Housing Act 2004, to safely hold onto tenants\u2019 deposits on behalf of their landlords.<\/p>\n

However, after only four years of trading the company entered into Creditors Voluntary Liquidation in May 2017.<\/p>\n

Independent insolvency practitioners were appointed to wind-up the business before submitting their report to the Insolvency Service. This triggered an investigation which found that Kari Ridout failed to safeguard more than \u00a334,000 worth of deposits.<\/p>\n

The investigation found that the company collected thousands of pounds worth of deposits from tenants<\/a> from at least 24 different properties, and did not pay them into the custodial deposit scheme.<\/p>\n

It was found that\u00a0\u00a334,000 was spent on the expenses of running the company.<\/p>\n

On 16 November 2018, the Secretary of State accepted a disqualification undertaking from Kari Ridout for 6 years, after she admitted failing to ensure that deposits taken from tenants by the company totalling at least \u00a334,610 were safeguarded, as required by the Housing Act 2004.<\/p>\n

Jane Knight, the Insolvency Service\u2019s Deputy Head of Insolvent Investigations, said:<\/p>\n

“Kari Ridout failed to safeguard the deposits she was entrusted to hold onto, resulting in losses to both landlords<\/a> and tenants.<\/p>\n

“Her conduct fell short of what is required of a director of a limited liability company and her disqualification will act as a deterrent to others from similar conduct in the future.”<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

Lettings management director, Kari Jade Ridout has been banned from management for six years after failing to protect tenant’s deposits.<\/p>\n","protected":false},"author":18,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[276,656,944,861],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-50224","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-government","8":"tag-housing","9":"tag-landlords","10":"tag-rental-sector"},"acf":[],"yoast_head":"\nDorset lettings boss banned for abusing tenant's deposits<\/title>\n<meta name=\"description\" content=\"Lettings management director, Kari Jade Ridout has been 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