Question
Steve is a tenant under a recently renewed 5 year lease in a commercial development owned by Rentco. Steve's c?
Steve is a tenant under a recently renewed 5 year lease in a commercial development owned by Rentco. Steve's customers have been suffering lately due to the bad economy, and many have been late in paying their bills. As a result, Steve is experiencing a cash flow problem. Steve emails RentCo, and states that he will be unable to pay his rent for the month of December, but that by January he should be able to make up for the missed payment and make timely payments thereafter. A few days later, he receives a letter from RentCo's lawyers telling him that his lease is terminated, and he must remove himself and his business possessions from the building by the end of November. What legal rules support or oppose RentCo's eviction notice, and is Steve required to abide by it?
4 weeks ago - 0 answers
Best Answer
Chosen by Asker
Their only "support" is the law of anticipatory breach. But that would be a stretch since Steve is current on the rent. They can't start the eviction until Steve is in default under one of the provisions of the lease. The most likely one is non-payment of December's rent. They could file on Dec 2nd. So Steve does not have to abide by it.
by Ed Atun
3 weeks ago
Asker's Rating: 