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  1. #1

    Default Consent to Entry document - Bank

    Hi Everyone

    Tenants of ours via their lawyer and bank have asked us (as Landlords) to sign a Consent to Entry document. They say they are rearranging some of their finances. Basically if these tenants default on debt payments the bank gets to enter our property and repossess their property.

    This particular tenant does not have anything more than desks and computers, however we do not feel comfortable signing this document and letting the bank just enter the property.

    Has anyone come across this before ?

    Sarah

  2. #2

    Default

    Just an update - we have decided not to sign this document and will ask the tenant and the bank to find another way to secure their security without involving landlord.

  3. #3
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,879

    Default

    Or the LL's property.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  4. #4
    Join Date
    Oct 2008
    Location
    Auckland/Melbourne/ whereever the money is
    Posts
    1,380

    Default

    Good move (not signing), our lives are inter-twinted already just by them being our tenants, the last thing you would want to do is become defacto guarantor for them.

    "Possession is 9/10ths of the law" and it seems that Repo agents take first & ask questions later.

    Thanks for bringing this up, I had not heard about it before.

  5. #5

    Default

    Thanks for the comments. I explained our situation and uncomfortable-ness to the bank and they actually rather 'shirty' with me. Honestly..

  6. #6
    Join Date
    Nov 2015
    Posts
    208

    Default

    Turn it around on the bank.

    Ask them to sign a Consent to Entry document. You are rearranging some of your finances. Basically if their atms are out of order you get to enter their property and repossess your property (money).

    See how they like that.

  7. #7
    Join Date
    Oct 2008
    Location
    Auckland/Melbourne/ whereever the money is
    Posts
    1,380

    Default

    nice thought, but it highlights a common misunderstanding.
    Once you deposit money in the bank it is no longer yours,it becomes the banks and you become an unsecured creditor !!!!

  8. #8

    Default

    Our tenant is going to revert back to the bank, so this may not be over. It will be interested to see if the bank start to get heavy handed.

  9. #9
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,879

    Default

    NZ has a banking Ombudsman - keep that in mind.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  10. #10
    Join Date
    Oct 2008
    Location
    Auckland/Melbourne/ whereever the money is
    Posts
    1,380

    Default

    how can they get heavy handed, they are the tenants bank, what relationship do they have with you?


 

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