My mom has a comm bldg and one of the lessees took a hike, collected all of his inventory and left the keys with the manager with a note saying that his business is failing and that the $500 a month break on the rent didn’t help enough.
Two months ago he asked for a $500 discount on his $2500/month rent on a remaining 1.5 years lease contract. He got the discount for a 3 month period with the promise to pay it back before the end of the lease.
Now he’s gone without a trace. The management company says to not bother chasing him, it’ll just cost $$$ hiring a lawyer, etc.
Other than changing the locks,
Is there anything we should do that wouldn’t cost $$$?
How about using a Skip tracer?
The guy is probably broke, but smart enough to take his inventory, which was probably worth a few months rent.
He did say in the note he forfeits his $3k deposit.
Are their any legal ramifications when a lessee disappears?
Are there any tax reporting considerations on losses due to this event?
rws