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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
    13,864

    Default

    Or the LL's property.
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  4. #4
    Join Date
    Oct 2008
    Location
    Auckland/Melbourne/ whereever the money is
    Posts
    1,341

    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.


 

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