Protect Interests When Dealing with Financially Troubled Tenant
While retail and office building owners field defaults of many kinds from tenants that fail to follow their lease terms, nonpayment of rent is the most common breach of a tenant’s lease. It signals bigger problems for you than just your bottom line being affected in the months that you don’t collect rent from a tenant. A tenant that isn’t paying its rent is probably struggling to such a degree that it might go under, leaving you with the difficult job of handling an eviction properly. Handling an eviction poorly could result in a wrongful eviction lawsuit.