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House Price Crash Forum


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About MarkN

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    HPC Newbie
  1. Our soliticor has managed to secure the bank bond and tranfer the funds to our account so that we have control of the money to cover any shortfoll. Our solicitor is now pursuing the matter on our behalf with Dr O. I have also tried to contact MB at Dr O but no luck as yet - we are missing a number of rental payments and nothing so far this month.
  2. Hi there, London based here also caught up in this problem. We have signed POA with Soliticor in Berlin to release bond to us - now waiting to hear on progress. I will probably follow up in a few days if I hear nothing. In the meantime, we have had a small payment of rent in August, but certainly not the full amount owing.
  3. MarkN

    Latest Oleg Respond

    Hi everyone Only just joined this site so catching up with the conversation. We are in the same situation and have taken legal advice. Our lawyer is arranging for the rental bank guarantee to be drawn down and transferred to our own rental account - we feel a lot more comfortable about this. This should help to sort things out short term. Medium to longer term actions will depend on the extent of the financial problems that the management company is facing. We could sue for damages but this would inevitably mean that assets would be frozen altogether and we would not get any rental income at all. Alternatively, we tranfer to a different management company, bbut then we loose all the guarantees! I have a feeling this will be an on-going issue. MarkN

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