Controversial letting agent’s company sold for undisclosed sum

The lettings agency operated by controversial agent Ajay Jagota has been sold for an undisclosed sum.

Jagota set up KIS Lettings with branches in Sunderland, North Shields and Welwyn Garden City; at the time he also operated a rent guarantee scheme which has now folded. 

He more recently set up a tenancy compliance service, Veriwise, which controversially promotes the idea of tenants threatening legal action against landlords or agents who allegedly fail to abide by legislation surrounding the private rental sector.

Now KIS, which handles 130 properties, has become one of two independent agencies taken over by My Property Box, set up 10 years ago and describing items as “a disruptor to the market, offering a digitally focused approach to lettings and sales.”

My Property Box has also taken over Acorn Properties, which handles over 800 lettings properties, including HMOs. All 14 staff are to be retained, together with its office in Jesmond, which serves an area from Durham City to Northumberland.

My Property Box has now completed nine acquisitions within the last four years and founder Ben Quaintrell says: “Last year’s deal involving Groves Residential, combined with that of Acorn Properties, represents an extensive expansion into both the professional, executive and student lettings market, as well as residential sales within the North East of England.

“I personally wish to reassure the clients of both Acorn Properties and KIS Lettings that they can expect the same high standards of service whilst continuing to benefit from that all-important local knowledge and expertise.”

John Henderson, a director of Acorn Properties, adds: “Margaret and I bought the business in 2004 and along with Louise Greetham, her husband Simon and our dedicated team, we have established it as well-respected and vibrant family business. We are proud of our exceptional levels of service, something that we know will continue under My Property Box with Louise at the helm.”

And Ajay Jagota of KIS Lettings comments: “I founded KIS with the ambition to become the North East’s best lettings business. I’ve thoroughly enjoyed the experience, but it’s the right time to move on to a new venture - which sees me continue my association with the property sector with the launch of tenancy compliance service, Veriwise.”