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Accomodation taken over by vulture fund

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  • 12-11-2018 8:42pm
    #1
    shivermetimber
    Registered Users Posts: 270 ✭✭


    Not sure whether this is suited here or in legal so move if needed. People close to me are in a very tricky situation and I wouldn't mind getting some advise if possible. Don't know the full situation but here's the basics:



    They are renting and have been in their accommodation for a good few years now. Recently the landlord ran into money issues and had to let go of some of their properties. Landlord informed them and apparently my guys house has been taken over by a vulture fund / receivership. Landlord has been very wishy washy and hard to get for the past few months. Today my guys got a letter from the takeover people saying that is very threatening. It was not addressed correctly but eventually got to them. The basic outline is they have not received correspondence from occupiers and will consider the property vacant in the next week, send people there, carry out inspection, change locks etc. Very serious, very quickly.



    What are the guys options here? Where do they go and who do they approach? I'm not sure they can afford legal advise. Is this letter just muscle flexing to be ignored as surely all correspondence should be with landlord or is it actually what it says on the tin?


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    #2
    Victor
    Registered Users Posts: 78,282 ✭✭✭✭Victor


    Write back, registered letter, saying that they are in occupation, have a lease and have paid rent to date (as applicable). Ask for copies of past correspondence, as they have received none.

    Make sure addresses, etc. are correct on all correspondence. Is there a risk that post has been going astray, e.g. one tenant hiding post from other(s)?

    Keep copies of everything.


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    #3
    shivermetimber
    Registered Users Posts: 270 ✭✭shivermetimber


    Victor wrote: »
    Write back, registered letter, saying that they are in occupation, have a lease and have paid rent to date (as applicable). Ask for copies of past correspondence, as they have received none.

    Make sure addresses, etc. are correct on all correspondence. Is there a risk that post has been going astray, e.g. one tenant hiding post from other(s)?

    Keep copies of everything.


    Yep, been paying rent. They aren't even sure who is actually getting this though. It's been paid to the landlord but is she meant to be passing this on and maybe not? Trying to get info off landlord to little avail. Maybe other stuff has not made it to them? Sure how do you know. This letter was incorrect, wrong post code and everything. Private house in countryside, not apartments.


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    #4
    the_syco
    Registered Users Posts: 37,295 ✭✭✭✭the_syco


    shivermetimber wrote: »
    They are renting and have been in their accommodation for a good few years now. Recently the landlord ran into money issues and had to let go of some of their properties. Landlord informed them and apparently my guys house has been taken over by a vulture fund / receivership.
    shivermetimber wrote: »
    Private house in countryside, not apartments.
    Find it odd that a vulture fund would take over a house in the countryside.

    Although it's possible that the landlord lost their house, and has been taking your friends rent even though it should have been going to the receiver, I find it odd that they wouldn't have contacted your friend before now.
    shivermetimber wrote: »
    Today my guys got a letter from the takeover people saying that is very threatening. It was not addressed correctly but eventually got to them. The basic outline is they have not received correspondence from occupiers and will consider the property vacant in the next week, send people there, carry out inspection, change locks etc. Very serious, very quickly.
    This sounds like a threat of illegal eviction. Perhaps inform their local Gardai of this, and see if the Gardai have heard of this previously?


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    #5
    shivermetimber
    Registered Users Posts: 270 ✭✭shivermetimber


    the_syco wrote: »
    Find it odd that a vulture fund would take over a house in the countryside.

    Although it's possible that the landlord lost their house, and has been taking your friends rent even though it should have been going to the receiver, I find it odd that they wouldn't have contacted your friend before now.


    This sounds like a threat of illegal eviction. Perhaps inform their local Gardai of this, and see if the Gardai have heard of this previously?


    All I know is they have been paying rent to the landlord as usual every month and trying to get info from them all the time.

    Maybe the landlord hasn't been paying on the rent. Who knows, the landlord won't tell then tenants and if these receivership guys have been sending letters previously to a wrong address then what?

    Is is an illegal eviction? Do the normal rules people know for standard issues still apply in this instance with a takeover? They've been advised to try speak to a solicitor, contact local TD etc. I might say about Gardai too but given what I've seen recently they'd probably be there helping these guys change locks.


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    #6
    the_syco
    Registered Users Posts: 37,295 ✭✭✭✭the_syco


    shivermetimber wrote: »
    Is is an illegal eviction? Do the normal rules people know for standard issues still apply in this instance with a takeover? They've been advised to try speak to a solicitor, contact local TD etc.
    Well, the bit I have bolded below;
    shivermetimber wrote: »
    The basic outline is they have not received correspondence from occupiers and will consider the property vacant in the next week, send people there, carry out inspection, change locks etc. Very serious, very quickly.
    sounds like an illegal eviction, as opposed to giving the tenants proper notice.
    shivermetimber wrote: »
    I might say about Gardai too but given what I've seen recently they'd probably be there helping these guys change locks.
    Unless your friends illegally trespassed into a office to protest that the office is not being rented out to people as apartments, I doubt the Gardai will be helping them change the locks.


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    #7
    Graniteville
    Closed Accounts Posts: 292 ✭✭Graniteville


    You can be fairly certain that there have been other letters - possibly they have been ignored or landlord has intercepted them.

    You can also be fairly certain that the letter is written properly and your friend is adding their own words.

    Landlord did not pay. Receivers were put in situ. Rent should have gone to receivers and now it has come to this.

    Your friend has two options.

    Bury head in sand or talk to them.


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    #8
    Graniteville
    Closed Accounts Posts: 292 ✭✭Graniteville


    You write as if has all happened in the past few weeks.

    Then you say the landlord has not been contactable for months.

    I suspect letters got ignored and day of reckoning has arrived.


    As for the snide remark about Gardai. That says plenty in itself.


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    #9
    Victor
    Registered Users Posts: 78,282 ✭✭✭✭Victor


    Oh, ask for a copy of the receivership documents to clarify who the rent is to be paid to.


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    #10
    shivermetimber
    Registered Users Posts: 270 ✭✭shivermetimber


    Graniteville wrote: »
    You can be fairly certain that there have been other letters - possibly they have been ignored or landlord has intercepted them.

    You can also be fairly certain that the letter is written properly and your friend is adding their own words.

    Landlord did not pay. Receivers were put in situ. Rent should have gone to receivers and now it has come to this.

    Your friend has two options.

    Bury head in sand or talk to them.
    Graniteville wrote: »
    You write as if has all happened in the past few weeks.

    Then you say the landlord has not been contactable for months.

    I suspect letters got ignored and day of reckoning has arrived.


    As for the snide remark about Gardai. That says plenty in itself.


    So because I make a joke about the cops this somehow reflects on others and they are now getting a day of reckoning. Cop yourself on would ya :rolleyes:

    Victor wrote: »
    Oh, ask for a copy of the receivership documents to clarify who the rent is to be paid to.


    Thanks. Who can they ask for these? Landlord or the receivers?


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    #11
    beauf
    Closed Accounts Posts: 22,651 ✭✭✭✭beauf


    Ask both. Also contact the RTB about the letter and get advice.


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    #12
    happyfriday74
    Registered Users Posts: 194 ✭✭happyfriday74


    Today my guys got a letter from the takeover people saying that is very threatening. It was not addressed correctly but eventually got to them. The basic outline is they have not received correspondence from occupiers and will consider the property vacant in the next week, send people there, carry out inspection, change locks etc. Very serious, very quickly.

    This letter is very common in cases where a owner hasnt provided any tenancy info to the fund and they lack a lot of info(the badly addressed letter screams of this)

    The letter is fishing for you to contact with them so they can ascertain who you are , what your tenancy arrangement is and to ensure you pay them rent going forward.

    If they do sent someone out they wont change locks if its clear the property is occupied and will likely get your tenancy detail via a door knock and inform you to call whoever the fund is or their agent

    Make sure you pay the Receiver all rent going forward and in meantime dig out evidence of rent transfers you have made to the old landlord in recent months.


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    #13
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    Stop paying the landlord immediately. Tell the receiver that you will pay the rent on receipt of copies of documents.


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    #14
    Fian
    Registered Users Posts: 2,188 ✭✭✭Fian


    shivermetimber wrote: »
    All I know is they have been paying rent to the landlord as usual every month and trying to get info from them all the time.

    Maybe the landlord hasn't been paying on the rent. Who knows, the landlord won't tell then tenants and if these receivership guys have been sending letters previously to a wrong address then what?

    Is is an illegal eviction? Do the normal rules people know for standard issues still apply in this instance with a takeover? They've been advised to try speak to a solicitor, contact local TD etc. I might say about Gardai too but given what I've seen recently they'd probably be there helping these guys change locks.

    It is not an eviction at all. Nor is it a vulture fund, it is a receiver appointed by teh bank by the sounds of it.

    the received will follow all the rules and is highly unlikely to do anything illegal - it is not his personal money at stake rather it is the bank's money.

    The receiver will probably evict your friend to sell the house though. With appropriate notice and by the book.


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    #15
    shivermetimber
    Registered Users Posts: 270 ✭✭shivermetimber


    happyfriday74 wrote: »
    This letter is very common in cases where a owner hasnt provided any tenancy info to the fund and they lack a lot of info(the badly addressed letter screams of this)

    The letter is fishing for you to contact with them so they can ascertain who you are , what your tenancy arrangement is and to ensure you pay them rent going forward.

    If they do sent someone out they wont change locks if its clear the property is occupied and will likely get your tenancy detail via a door knock and inform you to call whoever the fund is or their agent


    Thanks. Is this knowledge from past experience?

    4ensic15 wrote: »
    Stop paying the landlord immediately. Tell the receiver that you will pay the rent on receipt of copies of documents.


    That seems to be the plan as god knows where its been going up until now

    Fian wrote: »
    It is not an eviction at all. Nor is it a vulture fund, it is a receiver appointed by teh bank by the sounds of it.

    the received will follow all the rules and is highly unlikely to do anything illegal - it is not his personal money at stake rather it is the bank's money.

    The receiver will probably evict your friend to sell the house though. With appropriate notice and by the book.


    Yes, it seems it's not a vulture fund but a receivership. Good to hear that it will be done by the books. As you say, I'd imagine the place will probably be sold in the next year. The language and tone of the letter did feel like an eviction threat though, quite threatening language and from what I understand it definitely did mention sending people there and changing locks etc. Not sure or exact wording but enough to be scared of. I suppose if the landlord has been pocketing rent and not playing ball with the receivers and if they have been sending letters to **** knows where then its likely they are getting pissed, but this isn't the guys fault.


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    #16
    happyfriday74
    Registered Users Posts: 194 ✭✭happyfriday74


    Thanks. Is this knowledge from past experience?

    Yes. PM if you need more info.

    Make sure you pay the Receiver all rent going forward and in meantime dig out evidence of rent transfers you have made to the old landlord in recent months.

    Once they have a "normal" tenancy formalised they will relax. They may still want you out to sell the property but they will do this by the book and serve the required notice.99%


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    #17
    shivermetimber
    Registered Users Posts: 270 ✭✭shivermetimber


    happyfriday74 wrote: »
    Yes. PM if you need more info.

    Make sure you pay the Receiver all rent going forward and in meantime dig out evidence of rent transfers you have made to the old landlord in recent months.

    Once they have a "normal" tenancy formalised they will relax. They may still want you out to sell the property but they will do this by the book and serve the required notice.99%


    Cool. Hopefully get a bit more info in the coming days. Will be in touch if needs be ;)


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