Guaranteed rental returns
You did not buy this property to live in. You bought it as an investment
The Developer/Property Manager enticed you to buy the property in consideration of Returns/Income/Profit every month, year or quarterly as the case may be.
Sometimes the property was not even built and hence you relied on the Representations of the Developer/Property Manager to invest into that property.
Together with the Sale and Purchase Agreement, you would have had to sign an Investment Agreement/Management Agreement/Tenancy Agreement which gives the Developer/Property Manager control to manage your property and thus, giving you Returns to your investment.
The developer then used your purchase price to develop the property
Upon completion of Development, the Developer or property manager then starts the investment module which they, either in the form of a hotel or apartments for rent
Most of these properties had location going for them and hence you were further enticed into the investment. The location would have been either a seaside or beach front or even the centre of a business triangle.
Your predicament commences at this juncture
Although the investment bring in money for the Developer or Property Manager, that money Does not trickle into your pocket
Whatsoever calculation which was provided for in the Tenancy agreement or the Management Agreement or Returns which were drawn up a percentage from the top or gross or from the net were never forthcoming.
The developer failed to pay according to what they promised although they continue to receive a lucrative income from your investment!
And then as you gaze over at the greener pasture, you relook at the Management Agreement or Tenancy Agreement to find out how exactly was the Developer/Property Manager stealing from the your Spoils of Investment
The situation has become more acute now as clearly with the Covid pandemic behind us in the Horizon and it's front of us as well at the horizon, there is little income actually coming in.
Whilst all this, you continue to pay for your financial investment to the bank or money's taken oout from your savings. You consider and you ponder what to do with this investment
You have to proceed to sue for your Guaranteed Rental Returns including based on those representations which were made to tou you and how the developer had been skimming off the top.
The Difficult Developer runs for Cover under Judicial Management
You have to proceed to liquidate the Developer/Property Manager and consider what to do with your investment collectively as a whole, together with all the other Investors and Owners
The Rules
1. Proceed expeditiously and diligently
2. Gather has many owners and other investors as you can
3. Have in mind what you would like to do with the property if you decide to take it back.
4. Have a liquidator who will have something in mind for you to do with the property.
5. Do not let the property go abandoned
6. In that small window you may consider and injunction.
7. All the best
mvkumarvijay@gmail.com
Vijay Kumar
Mas Kumar
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