There’s been a massive jump in the number of landlords going into receivership here in the city..
Threshold says they've seen a 127 percent increase in the number of cases they've dealt with of tenants who're in limbo and are looking to find out what their rights are.
Stephen Large is from the housing charity, he has this advice for anyone in that situation.
“We’d always advise our clients to seek a deed of appointment from the receiver to show that they have been legally appointed as receiver to that specific property. So looking for assurances from the receiver that they have actually taken on the property.”
Stephen says tenants rights are protected but the legislation is a grey area on whether the receiver becomes the new landlord.
“On the one hand you have the legislation allowing the appointment of rhe receiver and the receivers interest is in getting the rent for that property so that they can go some way to meeting the mortgage repayments. On the other hand, you have the legislative protection afforded to the tenant under the Residential Tenancies Act. At the moment, those two pieces of legislation don’t talk to each other and that’s where the confusion arises.”
Threshold say they’ve dealt with 250 cases of this nature so far and are expecting that number to jump to over 500 by the end of the year.
