A local Portsmouth newspaper has received many phone calls from distraught landlords and tenants who had used the Professional Tenant Finder's Service, based in Portsmouth.

The individuals had all received an email sent out by the company on Monday 27th January telling them that they had  ‘ceased trading due to financial difficulty’. This was later confirmed by a liquidator.

One landlady Theresa Stancombe, told the newspaper that the Company owed her £3,325."I discovered they (the tenants) had found out about the company’s problem through the internet," she said.

"Both the tenants and I were shocked by what had happened. The tenants told me they had paid a whole year’s rent up front instead of monthly instalments.

"This frustrated me because I constantly had to send Professional Tenant Finders monthly reminders for the due rent."

Nicki Scott and her partner Dan are owed more than £1,000 said. "All I wanted was a perfect little family home for us and this experience has ruined it."

Another tenant owed money by the company Andrew Currie, who lives with his partner, said they are owed a £1,000 deposit. It is looking likely that the money will not be repaid and that due to health reasons he can no longer work and his condition has become worsened by the stress.

Andrew said "It has made all the problems that I have even worse,"

Landlord Jeff Hancock, let one property out through the company, says he is owed £2,900 and that he has not received any money since mid October.

A Hampshire Constabulary spokesman said that a number of people have already made complaints.

He said: "We have been made aware through the national Action Fraud scheme of several complaints about a company that acts as a rental agent. We are in the very early stages of looking into these allegations."

Simon Lowes, director of Ashtons JWD insolvency practitioner, said: "The directors recently approached my firm for professional advice concerning the financial position of the company. During that discussion, it became apparent that the company is clearly insolvent due to the fact that it appears to be unable to meet its liabilities. My firm is aware of allegations being made against the directors.

"Given the circumstances, my firm has now been instructed by the directors to assist with placing the company into creditors voluntary liquidation."

A creditors’ meeting is to be held on March 14th at a local hotel.