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As more people claim to have lost money paid to Sarnia Estate Agents a number of other local firms have offered help or advice to worried tenants and landlords.
Sarnia was one of the island's biggest estate agents, so the news of its likely collapse has come as a shock to many people.
First formed in 1982, Sarnia's website said it is "a Guernsey registered Company offering a complete range of property services within the Bailiwick."
While the company is still registered in Guernsey it was "strike off listed" on Tuesday 21 August because the owners haven't paid its £250 annual validation fee. If that bill isn't settled by 22 October the estate agency could be struck off and it's registration dissolved.
One of the previous directors of Sarnia Estate Agency resigned from his position last week before the company was Strike Off Listed.
Pictured: An Express report from earlier this week
On its website Sarnia continues to boast of "41 years' experience in property," saying its "service to both Vendors and Purchasers is what you would expect from one of the busiest and efficient agents on the Island enjoying an unsurpassed reputation for our professionalism and expertise."
Sarnia Estate Agents claims on its website that it is the "only agents in the island with the Conveyancing knowledge required to advise Vendors and Purchasers of legal procedures and liaise with the Advocates on technical matters etc. This ensures that the transaction progresses to completion and that all parties are provided with the best possible service and information during this time."
The FAQ section of its website offers advice to tenants and landlords taking advantage of the firm's rental business, but it doesn't say if any money paid to Sarnia in the form of deposits or rent is held in a protected account.
Pictured: Sarnia Estate Agent's website lists FAQ for tenants and landlords using its rental services
The frequently asked questions cover things like who is responsible for maintaining a rental property, references and what the agent's role is. At no point does it say where any money being held for deposits or rent is being held, suggesting the firm did not use a secure holding account as is the law elsewhere.
Other local estate agency's have moved to reassure customers they do this, despite the fact there is no law forcing property manager for landlords to do so.
In the UK, landlords are encouraged to use RICS.org which is the global professional body "promoting and enforcing the highest international standards in the valuation, management and development of land, real estate, construction and infrastructure."
Martel Maides said most estate agents are "scrupulous when it comes to the handling of client and customer funds," adding that "in addition to the maintenance of holding accounts keeping operating capital separate from clients’ funds, there are various accounting checks and balances in place to ensure peace of mind for all concerned."
Martel Maides said it and others are regulated by the Royal Institution of Chartered Surveyors "which demands rigorous levels of scrutiny. These include external inspections and include a measure of financial protection for clients’ money."
The firm said that allegations of mismanagement are damaging to the industry and this will potentially shake people’s confidence in the processes around the letting and management of property.
Guernsey Rentals also said it holds money in "a segregated Client Monies account that is totally separate from business funds. It is insured, rigorously audited and reconciled daily. We operate this account over and above the highest industry standards to ensure complete security of funds for tenants and landlords alike."
Swoffers offered some "general considerations' to those who may be affected by the situation with Sarnia, or similar situations, and said tenants should check their lease to try and find details for their Landlord even if they previously haven't had contact with them.
Swoffers also said, "clearly a tenant should not be paying money into any account that they have concerns over, but they should be putting money to one side as the rent will need to be paid at some stage.
"We fully encourage tenants to get legal advice because every lease will have a slightly different clause. If you can’t afford legal advice, then Citizens Advice may be able to help."
Lottie Barnes was the first member of the public to come forward with concerns about money she had paid to Sarnia earlier this week. At the time, she told Express that Swoffers had helped her out by trying to make contact with her landlord and offering other advice.
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