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MARCH 11, 2019 | BY A & S Property

Collapsed letting firm leaves landlords thousands of pounds out of pocket

A number of buy-to-let landlords have been left thousands of pounds out of pocket after a letting agent in Edinburgh went bust.

Liquidators have been called in to Slateford-based CMC Property Management, which failed to pass on tenants’ rents to landlords before going out of business.

It is not clear how much money is owed by CMC Property Management at this stage, but the company is thought to have had almost 100 properties on its books in Edinburgh and elsewhere in Scotland.

The firm’s last accounts lodged with Companies House show the amount owed to creditors within a year for 2017 of more than £260,000.

One landlord, who claims that she is owed about £4,000, told the Evening News that she is “absolutely furious” that she has effectively been “conned” by the failed letting agent.

She added: “The liquidators have told me there’s not enough money in the client account to pay all the landlords.”

Creditors, including angry landlords, will have an opportunity to meet with liquidators on Wednesday to find out how much money, if any, they can expect to claim back.

CMC Property Management was owned by Colin Campbell, the former director of Edinburgh City FC, a part-time professional senior Scottish football club, which plays in Scottish League Two.

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