How to cancel a lease when your commercial tenant stops paying rent

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How to cancel a lease when your commercial tenant stops paying rent

This article is about what you should and shouldn’t do when enforcing your commercial lease against a tenant that has defaulted on their rent payments or another condition of the lease.

Do not:

Do not take matters into your own hands. Do not physically remove the tenant or the tenant’s property or change the locks.

Do:

The best thing to do is to see a commercial lawyer. Take with you a copy of all the documents you have that relate to your lease together ...

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Business, Debt Collection, Leases

Cost traps for tenants

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Landlords and tenants should be aware of the costs they might incur when leasing commercial premises. This is all the more important in the current economic climate as landlords and tenants need to know what costs to plan for. Each lease is different, so the landlord and tenant’s respective obligations will depend on the terms of the particular lease. My opinions in this blog are primarily based on the Auckland District Law Society (5th edition, 2008) standard form of lease.

Primary ...

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Business, Leases