House Renting Question

thatsmyboy

HOUSE RENTING QUESTION
Hi guys im looking into renting a house from a guy who was a large builder in my area for the past ten yrs but is now no longer living in this country as he is been chased by creditors to who he owes a lot of dosh too. His building company has gone bust and bailifs have taken a lot of his machines and property he had in the name of his building company..

Anyways the house im thinking about renting off him is owned by him personally and not his building company thats gone bust, he assures me no one can touch is house as he is paying the mortage on this but i dont believe him and i thought they could take his personal belongings off him ie his house to pay his creditors and i would be left on the road with my wife and 2 kids

I would appreciate any help with this please

foggy_lad

thatsmyboy wrote: »

HOUSE RENTING QUESTION
Hi guys im looking into renting a house from a guy who was a large builder in my area for the past ten yrs but is now no longer living in this country as he is been chased by creditors to who he owes a lot of dosh too. His building company has gone bust and bailifs have taken a lot of his machines and property he had in the name of his building company..

Anyways the house im thinking about renting off him is owned by him personally and not his building company thats gone bust, he assures me no one can touch is house as he is paying the mortage on this but i dont believe him and i thought they could take his personal belongings off him ie his house to pay his creditors and i would be left on the road with my wife and 2 kids

I would appreciate any help with this please

If his house was being repossessed there would be lots of notice as any tenants have rights which must be protected, you would have to be given notice by the finance company/bank which should give you time to find other accomodation.

Keith in cork

My landlord is in the same situation. Has been since day 1 of me moving in. I'm 2 weeks shy of one year in the house, and not a whisper of any movement.

I did have an "insurance asser" call..... but this was no insurance guy, becaue if he was, i'd have been booted out for having the side entrance blocked hence causing a fire hazard. The box room window which my 4yr old sleeps in has the window at bed height so he could easily open the window and fall out, so i drove a screw in behind the handle making it un-openable. Another serious fire risk.

This man was from nama in my eyes. My landlord owes million as his company was huge during the boom time and they have repossessed 10+ properties. This property is in his name and they are still hunting him. I'm safe, so i wouldnt see why you shouldnt take up the property.

As said above, you will be given plenty of notice should you need to get out. Longer infact then the 4weeks should the landlord want you out.

thatsmyboy

Thanks guys/gals please keep ur opinions and personal situations coming in as i would like as many opinions before i take up his offer

By the way im sure nama aint after him as he would not be big enough for name but local suppliers are after him.

Oh ya forgot to say he is seperated from his wife so she prob could go after half the house !!!! god its all doom and gloom with me tonight sorry folks but just trying to take care of my family also

foggy_lad

thatsmyboy wrote: »

Thanks guys/gals please keep ur opinions and personal situations coming in as i would like as many opinions before i take up his offer

By the way im sure nama aint after him as he would not be big enough for name but local suppliers are after him.

Oh ya forgot to say he is seperated from his wife so she prob could go after half the house !!!! god its all doom and gloom with me tonight sorry folks but just trying to take care of my family also

You are more likely to be kept as tenant by any bank taking possession as that way the property is secure and occupied and at least earning something that can be paid off the debt owed

dudara

Moved to Accomodation & Property

dudara

lynchie

thatsmyboy wrote: »

HOUSE RENTING QUESTION
Hi guys im looking into renting a house from a guy who was a large builder in my area for the past ten yrs but is now no longer living in this country as he is been chased by creditors to who he owes a lot of dosh too. His building company has gone bust and bailifs have taken a lot of his machines and property he had in the name of his building company..

Anyways the house im thinking about renting off him is owned by him personally and not his building company thats gone bust, he assures me no one can touch is house as he is paying the mortage on this but i dont believe him and i thought they could take his personal belongings off him ie his house to pay his creditors and i would be left on the road with my wife and 2 kids

I would appreciate any help with this please

And if you do decide to rent, don't forget to withhold 20% of the rent each month for revenue as you said he is not in the country and therefore no longer resident.

Treehouse72

If you have other options I'd steer well clear. Not least because I don't like the idea of paying rent to some gombeen chancer who's run off dodging creditors and, no doubt, the authorities too. That would stick in my craw every rent day.

Cameron Poe

lynchie wrote: »

And if you do decide to rent, don't forget to withhold 20% of the rent each month for revenue as you said he is not in the country and therefore no longer resident.

Whats this all about? Is this a requirement of the tenant?

edanto

As far as I know, the obligation is on the tenant if the landlord is non-resident. Certainly worth researching.

Cameron Poe

edanto wrote: »

As far as I know, the obligation is on the tenant if the landlord is non-resident. Certainly worth researching.

Had a look at the citizens information website and it seems a bit vague. Our landlord lives in the UK but we pay our rent to his Irish bank account. We go through an estate agent for everything else. We've never had any correspondence with the landlord directly. I'm a bit confused now.

lynchie

Cameron Poe wrote: »

Had a look at the citizens information website and it seems a bit vague. Our landlord lives in the UK but we pay our rent to his Irish bank account. We go through an estate agent for everything else. We've never had any correspondence with the landlord directly. I'm a bit confused now.

If you pay into his account and not through an agent acting on his behalf then you are liable for 20% of his rent and you must declare it to revenue. If you don't and revenue find out they may pursue you for it.

http://www.revenue.ie/en/tax/it/leaflets/it70.html#section21