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Has a receiver taken over the property you rent?

Many private rented properties are purchased by their owners  using  a buy-to-let mortgage. Where the owner defaults in the repayments of the mortgage,  the lending institution may appoint a receiver. A receiver is someone appointed by a bank to collect income (such as rent) from a property to ensure a loan or mortgage is repaid.

Often the first a tenant finds out about the appointment of a receiver is when there is a knock at the door or they receive a letter through the post. This can be a worrying time as, at present, there is a lack of clarity around how the appointment of a receiver impacts upon the rights of a tenant. There may be confusion as to who the rent should be paid to or who is responsible for carrying out repairs, returning the deposit etc.

Threshold has called for a legislative amendment to the Residential Tenancies Act 2004 so that it clearly states that where appointed, a receiver steps in to the shoes of a landlord and the rights and obligations that apply under Act are adhered to.

Until that legislation is introduced, all parties have to work within the current laws.

You can download the tips opposite to help you if a receiver is appointed to the property you are renting.

 

To speak to an adviser phone:

Cork: 021 4278848
Dublin: 1890 334 334
Galway: 091 563080

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