Discovered my tenant is a bankrupt
I received a letter from the court insolvency service today informing me he was made bankrupt on 7 March. A shock to me!
This raises many questions for me...
- Should the letting agent have picked up a problem in December?
- If so, do I have redress, should things go wrong later?
- Legally, should he have informed me when he was made bankrupt?
- Am I allowed now to withdraw the new contract? It is signed by both parties but not yet started.
- Could the insolvency service force him to redistribute his cash so he starts having problems paying the rent?
- What are my rights if they want to visit the property to check/collect his assets (ie send in the bailiffs)?
- In your experience, if a previously good tenant is made bankrupt, do they tend to stop paying the rent?
Anything else I haven't thought of?!