Landlord Going Bust

wurriedrenter

I am currently renting from a property company which, on the basis of it's last set of accounts and the charges lodged against it, is on it's way out. I have been contacted by the sole director of the company, who has told me he is in the process of changing bank accounts so I should cancel my direct debit and await further instructions.

My worry is that as all the charges on the company's assets are held by the current bank I am struggling to see how a legitimate account could be set up elsewhere. I have a couple of questions.
1. If the new bank details are not in the company name, am I entitled to withhold payment?
2. If they are in the company name, how can I check that the company still owns the property?

Advice appreciated.

bris

No, its nothing to do with you. Pay your rent in the way the LL wants and if any thing is going to go wrong it will be the administrator who gets in touch with you.

HAMISH_MCTAVISH

It's not really any of your business.

You should pay rent as per your rental contract into whatever account instructed by any legitimate representative of the landlord until instructed otherwise by any legitimate representative of the landlord.

If they want to change accounts, that's surely their business and not yours. If they get repossessed then the bank will let you know soon enough.

Your only obligation is to meet the terms of your rental agreement, and pay the rent into whatever account you are told to by the landlord.

dancingfairy

Do you know where your deposit is held? I hope it's with one of the registered schemes as if the LL company hasn't registered it your deposit could be gone. Make sure it's been protected.
I also would be looking around to see what's around in case you do have to move.
Where are you with regards to a tenancy? are you on a rolling contract or fixed contract? I believe that even if the property is sold off/repossesssed etc then they have to give you notice.
If you know the property is going to be repossessed (which you don't know for sure at the moment) then you will need to get in touch with the mortgage lenders to make sure they are aware that you are in there.
df

theartfullodger

wurriedrenter wrote: »

I am currently renting from a property company which, on the basis of it's last set of accounts and the charges lodged against it, is on it's way out. I have been contacted by the sole director of the company, who has told me he is in the process of changing bank accounts so I should cancel my direct debit and await further instructions.

............

Advice appreciated.

I think your concerns are entirely reasonable...

However I would want any such instruction in writing,on company headed note-paper. It sounds suspicious like the director wanting to take as much money as possible & run. If in doubt contact CaB or Shelter.

If you do get instructions in writing I'd write back outling what you plan to do, that you are of course willing & able to pay, and enclose a copy of the letter you received (in case the rest of the company didn't know it was sent...)(

wurriedrenter

bris wrote: »

No, its nothing to do with you. Pay your rent in the way the LL wants and if any thing is going to go wrong it will be the administrator who gets in touch with you.

I'm concerned that it won't be the administrator but the bailiff who is first to contact me as with advance rent and deposit I 'm 3k in the hole to the company at any time.

mustrum_ridcully

theartfullodger wrote: »

I think your concerns are entirely reasonable...

However I would want any such instruction in writing,on company headed note-paper. It sounds suspicious like the director wanting to take as much money as possible & run. If in doubt contact CaB or Shelter.

If you do get instructions in writing I'd write back outling what you plan to do, that you are of course willing & able to pay, and enclose a copy of the letter you received (in case the rest of the company didn't know it was sent...)(

:T

First bit of really useful advice about this problem.

wurriedrenter

theartfullodger wrote: »

I think your concerns are entirely reasonable...

However I would want any such instruction in writing,on company headed note-paper. It sounds suspicious like the director wanting to take as much money as possible & run. If in doubt contact CaB or Shelter.

If you do get instructions in writing I'd write back outling what you plan to do, that you are of course willing & able to pay, and enclose a copy of the letter you received (in case the rest of the company didn't know it was sent...)(

Makes sense that, I suppose my greatest worry other than being turfed out at short notice would be a future admin/liquidator of the company persueing me for money already paid. Is there any way of finding out if proceedings to wind up the company have started. I'd actually be interested in buying the house, however it appears to be fast heading past the point where this would be feasible.

DannyboyMidlands

I'd take the opportunity to stop paying. Firstly what they're asking sounds kinda dodgy and secondly you'll probably end up getting kicked out anyway. Play your cards right and you could get many months free accomodation by the time a new owner gets hold of the place and then evicts you.

DannyboyMidlands

Your rent money is likely to go straight into your landlords private bank account whilst his company stops paying the mortgage on your house. He's trying it on.

RAS

Please answer; is your deposit protected?

And what is this about advanced rent?

View http://www.companies-house.gov.uk/ which sometime indicates companies that may be dissolved.