Bank rent collection may be illegal

The decision by leading banks to “walk in the shoes” of defaulting buy-to-rent landlords and collect rent directly from tenants could be illegal and risks trampling on tenant rights.

Housing charity Threshold made the warning after it emerged AIB, Bank of Ireland, and EBS are involved in the measure.

Under the policy, the lenders have chosen to circumvent buy-to-rent property owners who are failing to pass on rental payments to the institutions.