Renting a property - owner has done a runner!

bondijupiter

Hello all...

Total moneysaving virgin here needs some friendly advice!

I am an agent renting a particular property for the last 4 and a half years. The trouble is, the owner has done a runner!

I have opened up a ringfenced account to protect the owner's earnings and so that he can gain interest, but I only have the owner's surname. Additionally, he doesn't appear on the Land registry.

Basically, this guy came into our office (mid 60's) around 4 years ago, dumped some keys on my desk and said "Rent my property... I'm off to Spain and I'll be back in 2 weeks...". I've not seen him since, and no-ne else has come forward to claim the property. There have been no letters from mortgage companies, so presumably this property is owned outright?

As an agent, I'm pretty used to dealing with Land registry etc, but it's unusual that I cannot find mention of this guy anywhere, or who the actual owner of the property is!

So, if the owner never comes back to us (or has died :A), what do we do with the property, and aside from gas certs and essential repairs, do we have any rights to make changes to it out of his income (upgrading C/H and windows etc)?

Thanks for reading...

Place_of_Design

the ringfenced accout - have you ever paid out of it to the owner?

RabbitMad

maybe he decided not to go to spain. Didn't we agree some kind of extradition treaty with the spanish about 4 years ago?

Place_of_Design

bondijupiter wrote: »

Hello all...

There have been no letters from mortgage companies, so presumably this property is owned outright?

this probrably means he had a mortgage ages ago, and the paperwork is locked in a vault at the mortgage company

Have you considered looking at the historic electoral roll?

wockawocka

bondijupiter wrote: »

Hello all...

Total moneysaving virgin here needs some friendly advice!

I am an agent renting a particular property for the last 4 and a half years. The trouble is, the owner has done a runner!

I have opened up a ringfenced account to protect the owner's earnings and so that he can gain interest, but I only have the owner's surname. Additionally, he doesn't appear on the Land registry.

Basically, this guy came into our office (mid 60's) around 4 years ago, dumped some keys on my desk and said "Rent my property... I'm off to Spain and I'll be back in 2 weeks...". I've not seen him since, and no-ne else has come forward to claim the property. There have been no letters from mortgage companies, so presumably this property is owned outright?

As an agent, I'm pretty used to dealing with Land registry etc, but it's unusual that I cannot find mention of this guy anywhere, or who the actual owner of the property is!

So, if the owner never comes back to us (or has died :A), what do we do with the property, and aside from gas certs and essential repairs, do we have any rights to make changes to it out of his income (upgrading C/H and windows etc)?

Thanks for reading...

You mean you took on someones property without asking for contact details?

Edit,
I suggest you take this opportunity by the horns.

Ask the tenant to leave, live in it yourself for 16 years.

Voila, one house.

Fire_Fox

So who is listed as the owner on the land registry?

Place_of_Design

Fire_Fox wrote: »

So who is listed as the owner on the land registry?

occasionally they are not listed, if the property was purchased many years ago, especially if a morgage was involved, which was also paid off many years ago

Place_of_Design

The OP does need to resolve this, as he is potentially liable, or his missing clinet is

what would happen in the circumstances of:
- compusarary purchase
- non-payment of council tax

Presumably buildings insurance is being paid. If the property went unleased for a period of time, then the money in the pot could dwindle to the point where expeses could not be covered

bondijupiter

tried everything!

no listed owner of property. no-one but our tenant on elctoral register going back many many years.

the property is a converted house, and the property in question is the ground floor flat.

the owner of the first floor does not pay ground rent, so finding the freeholder will be a nightmare too!

Place_of_Design

bondijupiter wrote: »

tried everything!

no listed owner of property. no-one but our tenant on elctoral register going back many many years.

the property is a converted house, and the property in question is the ground floor flat.

the owner of the first floor does not pay ground rent, so finding the freeholder will be a nightmare too!

the "tennent" isnt the "owner" is he?

Worth speaking to the other flat occupants and neibours for clues

chappers

is it possible that this guy did the conversion and was the original owner of the first floor flat, maybe worth enquiring about.
You are right to be worried as you aren't the person responsible for the property, is the property insured etc.
Maybe you should speak to a solicitor and should seriously consider not renting the property out anymore as you are not the responsible owner. Any letting contract should be between the owner and the tenant with you acting soley as his agent.
The only thing you seem to have done correctly here is putting his money aside.