renting a nama property

Hi pinsters…me and the family been renting a property in a small finished but half empty development for past 2.5 years. Last year the developer went belly-up and just last week we were notified that the properties in the developement have been nama’d and for now our landlord is the receiver acting on nama’s behalf. Just wondering has anyone else had this experience and how long do we have left in this property before they are auctioned off or released onto the property martket. I am guessing that we don’t have anymore than 6 months. Unfortunately there is a dearth of unfurnished properties in the area (carrigaline, cork)

You have part 4 tennancy, much harder to move you on.

Yea but if the intention is to sell the property then the tenancy can be terminated…below from PTRB website

Terminating a tenancy
Your landlord must always give you notice when asking you to leave. (Read more under ‘Notice periods’ and ‘Notice of termination’, below.) Landlords can ask tenants to leave without giving a reason during the first six months of a tenancy. Landlords can terminate a tenancy that has lasted between six months and four years (a Part 4 tenancy) only in the following circumstances:

•After 3 and ½ years
•If the tenant does not comply with the obligations of the tenancy
•If the property is no longer suited to the tenants’ needs (e.g. overcrowded)
•If the landlord needs the property for him/herself or for an immediate family member
•If the landlord intends to sell the property
•If the landlord intends to refurbish the property
•If the landlord plans to change the business use of the property (e.g. turn it into offices).

12 months before they can kick you out, ( or offer the property to you to buy)
A lot worse could happen in the next 12 months.

I wrote this in 2007. Thought I’d square the circle for the records :frowning:

***I don’t think this forum would be useful or readable if it where otherwise. **
On a point of planning. I am not sure if its been raised but are theyre not implications in terms of the planning applicaiton granted.

This tactic by developers, could it somehow it contravene a typical planning permission of a typical development?

Surely it is not in the interests or intention of Co Councils area development plans to give building permisisions to developers whom th turncoat to become super landlords?

**Its getting very messy. For example if a big builder goes to the wall and has 500 apartments rented out, suddenly the BANK gets the lot and then what of the 500, 1000, or 1500+ tenants, are they to be cast to the street? **

The social implications are mind boggling! :open_mouth:

This honeslty deserves a Dail quesiton. With the current Healthservice meltdown :unamused: I am not sure its going ot get an airing.

History repeating itself, like YEAH! :imp:

I think you getting ahead of yourself. So its been nama’ed. This in effect changes little. It probably will be at least 2 years + before it will be sold. Nama moves at a glacial pace, is not interested in selling at a reasonable price. Ask to be kept informed but you will have to do the chasing.

I was in this situation (bank, not NAMA) and got moved along once my lease was up, as the place was sold. Basically, the bank was a dream landlord since they appointed a good agent who did whatever I wanted (sure it wasn’t their money). But there was no talking them out of terminating the lease.