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Property Company withholding rent

  • 29-08-2011 10:57pm
    #1
    Forever Hopeful
    Closed Accounts Posts: 275 ✭✭


    Hi,
    I need help in how to handle a situation. A year ago I rented my property and engaged the services of a property management company to source tenants and manage the property. For the past few months they have not been paying the rent into my account. The tenants pay them, they take the monthly fee and then pay into my account. I spent weeks chasing them. It seems like they have laid off staff and the owner works parttime. I finally got 3 out of the 5 months I am owed but I am not getting the rent from last month and june. He asked me for a bank statement but I would only show him unless he met me. I said I would meet him at a time that suits and again is ignoring me. I am at my wits end. I am considering getting a solicitors letter to get them to pay me and use another (more established) property company? Anyone have any ideas of what I can do?
    Thanks for reading this.


Comments

  • #2
    mebird
    Closed Accounts Posts: 61 ✭✭mebird


    Sounds like he has a 'hole' in his client account. This is a serious issue and happens when estate agents / solicitors etc. do not ring fence funds in the client account. If they are bad book keepers or just don't care and pay on money on a first come, first serve basis... a massive deficit builds up and it becomes like a pyramid scheme.... made worse if he starts losing business and the hole crystallises.

    His only option is to only pay those who doth protest the most.

    Get rid of him asap and get as much from him as you can and if he is a member of the IAVI or similar org... report your problems.


  • #3
    Zamboni
    Registered Users, Registered Users 2 Posts: 4,306 ✭✭✭Zamboni


    Can the OP contact the tenants directly and give his bank details for the rent to be paid to instead of the EA or is this out of the question?


  • #4
    Forever Hopeful
    Closed Accounts Posts: 275 ✭✭Forever Hopeful


    Zamboni wrote: »
    Can the OP contact the tenants directly and give his bank details for the rent to be paid to instead of the EA or is this out of the question?

    I am looking into this. Made another attempt today and also suggested i was exploring my options. They will not meet me to discuss. I know they are holding something back. I am going to write a letter to the tenants asking them to call me. (don't have their #s)I will have them pay the rent direct and will send a solicitor's letter asking them to pay the rest of the rent. It is shocking the stress these a%%holes are putting me under.


  • #5
    mebird
    Closed Accounts Posts: 61 ✭✭mebird


    Forever Hopeful wrote: »
    I am looking into this. Made another attempt today and also suggested i was exploring my options. They will not meet me to discuss. I know they are holding something back. I am going to write a letter to the tenants asking them to call me. (don't have their #s)I will have them pay the rent direct and will send a solicitor's letter asking them to pay the rest of the rent. It is shocking the stress these a%%holes are putting me under.

    It may be that they have paid the rent in good faith to the agent and it would not be a good idea to start firing them off solicitor's letters.

    If you are not getting answers from the agent, you must get them from the tenants. Drop a note in the door asking them to contact you and explain that the agent has only paid you three of the last five month's rent rent. If they respond with indignation ... you have your answer and the agent is either inept or bust and paying whatever landlord shouts the loudest.


  • #6
    Forever Hopeful
    Closed Accounts Posts: 275 ✭✭Forever Hopeful


    Sorry I didn't mean that I was going to send the tenants a solicitors letter. I was going to send the property company one.
    They are withholding rent. they want to see my bank statement to verify payments but I will do so only in person. I have repeatedly requested an appointment over the last two weeks and I am being ignored which reinforces my belief that they are in trouble.
    Should I send the tenants a note to say to send rent directly to me and I can deal with the property company separately?
    Thanks for the advice


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  • #7
    mebird
    Closed Accounts Posts: 61 ✭✭mebird


    Forever Hopeful wrote: »
    Should I send the tenants a note to say to send rent directly to me and I can deal with the property company separately?
    Thanks for the advice

    Yes. I am sure you do not want to continue using the property company anyway.


  • #8
    Forever Hopeful
    Closed Accounts Posts: 275 ✭✭Forever Hopeful


    Thanks I am just new to this... my fear is that once I send the letter, they will contact the company to confirm. So once I've sent the letter I will inform the company I will no longer need them. Just worried they won't give the 2 months they owe me back


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