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Hi My wife and I are in our mid seventies and AARP members.

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Hi: My wife and I...
Hi: My wife and I are in our mid seventies and AARP members. We have a commercial property (Auto repair shop) which we leased to a tenant, who has fallen behind in his rental payments. We cannot afford to pay monthly mortgage close to $4,000.00, and this tenant has not made any effort of calling us and telling us why he is not paying the rent. I have called him few times and was told the business is not going well.... and that he was going to put the check in the mail over the weekend.... many weekends have come and gone and "no payment". He has signed a five yr. lease.... and already after three months he is having difficulty making the payments. At the time of signing the lease, he proved to us that he had close to $32.000.00 in the bank... We are afraid if payments are not done, the bank will take the building... WHAT CAN WE DO...HELP!!
Submitted: 8 years ago.Category: Legal
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Answered in 1 minute by:
6/25/2010
Lawyer: legaleagle, Lawyer (JD) replied 8 years ago
legaleagle
legaleagle, Lawyer (JD)
Category: Legal
Satisfied Customers: 13,441
Experience: Attorney-Business degree from The University of Texas
Verified
You need to evict him for failure to pay rent and you can get an order to seize his property to pay the amount of rent that is due and you can then find a new tenant.
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Customer reply replied 8 years ago
What happens to the five yr. lease that the tenant signed. The broker got his commission on five yr. lease up front.... and now after only three months I am holding the bag.... Something is wrong. Can we put a lean on his house? Finding a new tenant in this economy will not be easy. Meanwhile the bank is expecting to get its money on time every month....
Lawyer: legaleagle, Lawyer (JD) replied 8 years ago
You sue him for the damages due to the breach. You can get a judgment and then an order to place a lien on his house or any other asses he owns.
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