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When your commercial tenant stops paying on the lease

Finding a good renter may turn your commercial real estate investment in Florida into a profitable business venture. However, when the person who signed the lease does not keep up with payments, it has the potential to turn the same situation into a devastating loss. At Welbaum Guernsey, our attorneys often provide advice to property owners who are losing money from a default on a building lease.

TheBalance.com points out that you may be able to salvage the lease agreement by working with the renter. If not, you must have that person’s belongings removed from your property so you can prepare to lease the building to a new tenant. Commercial leases may be different from residential agreements in many ways, and the eviction process varies, too, depending on the type of company.

Your current tenant needs to know that you are planning to start the eviction process. He or she may find a way to pay the amount owed on the commercial building lease if given a definite limit. After that time period has passed, you may file the eviction with the court and serve the notice to your lessee.

At the eviction hearing, the burden of proof is on you to show that the rent is in arrears. The judge may determine that the lessee should continue to be liable for rent payments until you are able to find a new tenant. The ruling also typically includes the exact day by which the property must be vacated. More information about lease agreements and contracts is available on our web page.

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