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Rental property taken over by bank.

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  • 15-08-2015 2:42am
    #1
    punisher5112
    Registered Users Posts: 24,644 ✭✭✭✭


    Hi we have just received a number of letters.

    1 where it states no further involvement from LL and to pay new management company appointed by bank.

    2 we have now 42 days to vacate the property as they intend to sell.

    We are renting nearly 2 years at this property and with all the fighting for properties we are having a very difficult time finding anywhere at all.
    We were pushed out of Dublin with crippling rents and now find it is as bad now as it was in Dublin 2 years ago.

    The property along with a few others are up for sale but there is a tax clause and management of the grounds problems.

    The houses can not be sols at the moment due to planning.

    Tax insentive scheme or similar over 17 years ago where they were designed to be very short term lets(holiday homes).

    We were talking with original estate agent we let through and he wad surprised the bank was pushing us out so quick as he said the properties are in limbo at the moment.


    Rents are through the roof and with both of us commuting to work its costing a fortune only now to be made worse by having to find a new place for a hell of a lot more.

    Any ideas appreciated or info I may not be aware of.

    Thanks.


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    #2
    the_syco
    Registered Users Posts: 37,301 ✭✭✭✭the_syco


    punisher5112 wrote: »
    where it states no further involvement from LL and to pay new management company appointed by bank.
    Check if the bank has your deposit, as I doubt you'll be getting it off the landlord as it's no longer his house (although if he's sound, you may).


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    #3
    punisher5112
    Registered Users Posts: 24,644 ✭✭✭✭punisher5112


    the_syco wrote: »
    Check if the bank has your deposit, as I doubt you'll be getting it off the landlord as it's no longer his house (although if he's sound, you may).


    We have been given their word(management company) we will get it straight away.


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    #4
    the_syco
    Registered Users Posts: 37,301 ✭✭✭✭the_syco


    punisher5112 wrote: »
    We have been given their word(management company) we will get it straight away.
    Do they have the deposit, or where will they be getting it from?


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    #5
    Marcusm
    Registered Users Posts: 10,344 ✭✭✭✭Marcusm


    the_syco wrote: »
    Do they have the deposit, or where will they be getting it from?

    If they want them out for a sale then they will fund it from the bank's resources rather than waiting for the tenant to overhold for 18 months without paying. I would expect to receive it at the point of handing back the keys.


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    #6
    Carawaystick
    Registered Users Posts: 8,779 ✭✭✭Carawaystick


    the prtb documents state the notice to terminate must come from the landlord.
    I'd raise a dispute with the prtb straight away. This should buy you time, if nothing else.

    I'd pay the new management agent in person. In cash, and video the transaction, havig videoed the management agents id( passport/driving license) and confirmed with the secretary of the management company that the person in front of you, is the person the secretary of the company can id.
    I'd arrange to meet at a time you're fairly sure the management company would be closed, so they can't id the person in front of you.


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    #7
    punisher5112
    Registered Users Posts: 24,644 ✭✭✭✭punisher5112


    the_syco wrote: »
    Do they have the deposit, or where will they be getting it from?

    Yes they have it so they say. They got it back from the original management company.


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    #8
    [Deleted User]
    Posts: 24,714 ✭ [Deleted User]


    Carawaystick wrote: »
    the prtb documents state the notice to terminate must come from the landlord.
    I'd raise a dispute with the prtb straight away. This should buy you time, if nothing else.

    Fairly sure when a bank takes over they can pretty much do as they please in relation to kicking out current tenants. They aren't subject to the normal rules like notice periods etc.


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    #9
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    Nikolas Rough Cheetah wrote: »
    Fairly sure when a bank takes over they can pretty much do as they please in relation to kicking out current tenants. They aren't subject to the normal rules like notice periods etc.

    You're wrong. All the tenant rights are preserved.


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