Dudley estate agent handed hefty bill after losing tribunal case
A Dudley-based estate agent who lost a tribunal appeal has been ordered to pay over £15,000.
After a case brought by Dudley Council’s trading standards team, Andrew Cole, trading as Andrew Cole Estates, was fined £14,000 for breaching client money protection regulations between January and August 2023.
He was ordered to pay a further £1,500 for failing to publish required fee information on his website in January 2023.
The first-tier tribunal heard Mr Cole had operated without a valid client money protection scheme membership for almost five years at the time of the penalties, with his Royal Institute of Chartered Surveyors registration having lapsed in May 2018.
He claimed he believed client money protection was in place through Propertymark membership, but he only held an individual membership that did not offer client money protection cover.
Although Cole claimed he had sold the lettings side of the business and was winding up operations, he claimed the he could not afford the fines due to £34,000 in bounce-back loans, rent arrears of £4,000 and other debts.
But when Dudley Council’s trading standards officer visited the premises in November 2023, staff confirmed Cole remained the owner with no evidence of any sale.
Councillor Phil Atkins, Dudley Council's cabinet member for trading standards and environmental health, said: “This investigation, which was undertaken by our trading standards team, demonstrates the importance of ensuring compliance with appropriate regulations designed to protect tenants.
“The regulations give tenants and landlords confidence that their money is secure and that they have access to dispute the issue if needed. Agents who fail to comply and put tenants at risk, will face the consequences.”
