I'm a christian and rented my commercial properity to another christian for his second location for a business. after 10 months he notifies me the day of his closing and asks for mercy. I am in the process of moving out of town and rely on the rental agreement. The contract is iron clad and he is responsible for the term of lease. Should a penalty/ buy out be offered? Make tenant try to sublease to fulfill the terms of existing lease and whatever balance to complete original deal if new sublease tenant agreement doesn't match original deal?How should this be handled honorably. He was late on payments and didn't pay taxes on properity that is still owed to me. Intelligent guidance please.
2007-03-20 15:33:28 · 2 answers · asked by Dennis James 5 in Business & Finance ➔ Renting & Real Estate
You can't get blood out of a turnip. Let him go, otherwise he'll just be taking up your space and not paying instead of being gone and not paying. The market is different than it was a year ago. You will have to work really hard to get the same rent and it's not the current tenants fault the market tanked. I don't know what your religion has to do with your business agreement. Since you threw that tidbit in, maybe you should ask your spiritual advisor since it seems important to you and not in alignment with your "iron clad lease".
2007-03-20 16:33:47 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Familiar with "Render unto Ceasar...?"
Suggest you get a lawyer.
Also, ifmoving out of town, sugges you get a property manager tolook after your property.
2007-03-20 22:40:29 · answer #2 · answered by TedEx 7 · 0⤊ 0⤋