Insolvency & Rental Property Management: What are the Tenancy Terms

Review the lease agreements and tenancy agreements to determine what the terms are.

This will provide you with the events of default and the remedies available. Review all lease agreements to ensure the tenant is paying all rent and other costs that are due.

If there is no lease agreement, then it is reasonable to assume the tenant is on a month to month tenancy. It is also reasonable to require the tenant to produce proof of their payment of the last three months rent.

This will assist in determining the correct amount of rent and other expenses the tenant should be paying. Inspect the tenant’s premises to ensure they are only occupying the space allocated to them and that their allocation of the triple net costs is based upon the correct square footage.

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