Overseas property rental advice please???
Discussion
Hi,
I'm posting this on behalf of a friend who's experiencing problems with an investment property he purchased in Spain. The property is an upmarket new build villa on a coastal resort and is managed by http://www.mrioverseasproperty.com/
The terms of the contract that he signed was that MRI would help tenant the property and collect rent/maintain the property etc. What has happened is that he's recieved a letter from the Spanish mortage company saying he is substantially overdrawn. The manager from MRI who was managing the property and who had been in contact with throughtout the property purchase had told him that the property has been tenanted for a while. However, after finding out he was overdrawn, he contacted MRI who say that the manager has left the company and they have no record of any rent being paid. Now MRI are just bouncing phone calls and not doing anything to sort the problem. From a legal perspective, are we correct in thinking it is MRI who owe my friend money since they have not been collecting rent. If MRI have no record of the property being tenanted can they just turnaround and say that my friend is liable for the mortage. Its got to the point where my friend doesn't even know if there is anybody living in his property. Also, does this in anyway sound like he is a victim of some sort of scam.
(PS. Does anybody know anything else he can really do.)
Thanx
I'm posting this on behalf of a friend who's experiencing problems with an investment property he purchased in Spain. The property is an upmarket new build villa on a coastal resort and is managed by http://www.mrioverseasproperty.com/
The terms of the contract that he signed was that MRI would help tenant the property and collect rent/maintain the property etc. What has happened is that he's recieved a letter from the Spanish mortage company saying he is substantially overdrawn. The manager from MRI who was managing the property and who had been in contact with throughtout the property purchase had told him that the property has been tenanted for a while. However, after finding out he was overdrawn, he contacted MRI who say that the manager has left the company and they have no record of any rent being paid. Now MRI are just bouncing phone calls and not doing anything to sort the problem. From a legal perspective, are we correct in thinking it is MRI who owe my friend money since they have not been collecting rent. If MRI have no record of the property being tenanted can they just turnaround and say that my friend is liable for the mortage. Its got to the point where my friend doesn't even know if there is anybody living in his property. Also, does this in anyway sound like he is a victim of some sort of scam.
(PS. Does anybody know anything else he can really do.)
Thanx
ItsTony said:
Hi,
I'm posting this on behalf of a friend who's experiencing problems with an investment property he purchased in Spain. The property is an upmarket new build villa on a coastal resort and is managed by http://www.mrioverseasproperty.com/
The terms of the contract that he signed was that MRI would help tenant the property and collect rent/maintain the property etc. What has happened is that he's recieved a letter from the Spanish mortage company saying he is substantially overdrawn. The manager from MRI who was managing the property and who had been in contact with throughtout the property purchase had told him that the property has been tenanted for a while. However, after finding out he was overdrawn, he contacted MRI who say that the manager has left the company and they have no record of any rent being paid. Now MRI are just bouncing phone calls and not doing anything to sort the problem. From a legal perspective, are we correct in thinking it is MRI who owe my friend money since they have not been collecting rent. If MRI have no record of the property being tenanted can they just turnaround and say that my friend is liable for the mortage. Its got to the point where my friend doesn't even know if there is anybody living in his property. Also, does this in anyway sound like he is a victim of some sort of scam.
(PS. Does anybody know anything else he can really do.)
Thanx
I'm not sure about the legal perspective in Spain, but where I have o/s rental property I still get a contract confirming the period of the let and the rental payable; has he not had similar? I'm posting this on behalf of a friend who's experiencing problems with an investment property he purchased in Spain. The property is an upmarket new build villa on a coastal resort and is managed by http://www.mrioverseasproperty.com/
The terms of the contract that he signed was that MRI would help tenant the property and collect rent/maintain the property etc. What has happened is that he's recieved a letter from the Spanish mortage company saying he is substantially overdrawn. The manager from MRI who was managing the property and who had been in contact with throughtout the property purchase had told him that the property has been tenanted for a while. However, after finding out he was overdrawn, he contacted MRI who say that the manager has left the company and they have no record of any rent being paid. Now MRI are just bouncing phone calls and not doing anything to sort the problem. From a legal perspective, are we correct in thinking it is MRI who owe my friend money since they have not been collecting rent. If MRI have no record of the property being tenanted can they just turnaround and say that my friend is liable for the mortage. Its got to the point where my friend doesn't even know if there is anybody living in his property. Also, does this in anyway sound like he is a victim of some sort of scam.
(PS. Does anybody know anything else he can really do.)
Thanx
Having said that, I still check the bank balance on line once a month to ensure that the rental is being paid in correctly (I know a little late for that). If there is no contract and no record of tenant I'm not really sure what your friend can achieve.
Has he tried anything practical like phoning the property and seeing if someone answers?
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