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Easy Details about Property Management

Fairfax Property Management Company

Failed to pay rent to your industrial tenant. You’ve heard things aren’t going so well for them, but it’s clear now. Your responsibility and obligation as a property manager is to fix the problem as soon as possible. They have essentially broken the contract because the tenant has failed to pay by the due date and you are entitled to evict the tenant from the house. An eviction case is a fairly simple legal procedure, generally referred to as an Unconstitutional Detainer action. For property managers, the important thing to remember is that the steps involved in this procedure are crucial and must be followed to the letter of the law. It is normal to have a real estate attorney representing all sides in the action. The wrongful detainer action should go reasonably smoothly and the landlord or owner should win if your property manager has followed the rule, given sufficient notice, and has a thorough file of all the communications with the tenant and their business. Property Management offers excellent info on this.

The first step is to address the problem of rent payments if necessary.

The property manager should make every attempt to get the occupant to make the rental payments and carry their lease current if at all necessary. If this means waiting for payment for a few extra days maybe this will be the right course of action instead of filing a complaint. This move would be determined by the individual company policy and best practises so it will be easier for both parties to settle before litigation.

If a payment is not forthcoming, then the tenant must be prepared and duly served with a ‘three-day notice to pay or leave.’ It must be in a particular legal format for this notice. A commercial owner, landlord or property manager can choose between various types of 3-day notices; 1) specify the exact amount of rent owed; or 2) estimate the amount of rent owed-usually when a tenant is paying a percentage rent.

If the lease allows the occupant to pay rent and other different sums for triple net or CAM fees, the property manager should get appropriate advice on whether it is necessary to send two separate and independent notices or not.