Alexandoy
VIP Contributor
One owner of a small commercial building confided to me that some of their tenants couldn’t pay rent. This was before the pandemic era. Those delinquent tenants rent an office space and one rents a store space in the ground floor of the building. How can he force the tenants to pay? My advice is to send them a letter of eviction. It is in the lease contract that a tenant who is delinquent for 2 months of rental payment can be evicted with a month’s notice. That did the trick. The delinquent tenants talked to the building admin of the problem, paid a little and left a promissory note so that they would not be evicted. I still do not know the ending of the story.
One problem of the landlord is the willingness to pay the rent. There are tenants who are up to day in payments and there are those who are delayed in rent payments due to financial problems. The 2 requirements for accepting a tenant is the capacity to pay and the willingness to pay. As a safeguard here, some landlords would require a co-maker in the lease contract so that when the tenant couldn’t pay then there is someone who will have to pay for the tenant.
One problem of the landlord is the willingness to pay the rent. There are tenants who are up to day in payments and there are those who are delayed in rent payments due to financial problems. The 2 requirements for accepting a tenant is the capacity to pay and the willingness to pay. As a safeguard here, some landlords would require a co-maker in the lease contract so that when the tenant couldn’t pay then there is someone who will have to pay for the tenant.
