Imagine the following: You're a commercial landlord. It's the first of the month and the rent check didn't come. You visit your tenants and the doors are locked. The lights are off. The furniture and equipment are in disorder but, for the most part, still there. Your phone calls are not returned. Emails bounce. Cue the Freddy Krueger music; this is every landlord's nightmare. They're gone.
Unfortunately, stories like this are not uncommon in the commercial real estate world. Particularly during down markets like we've experienced the last five years or so. To make matters worse, there can be very serious legal implications for property owners if the matter is not handled properly. If you are involved in a tenant dispute or have what appears to be an abandoned premises, it can be a delicate matter, and taking the wrong steps can expose you to damages and costs. As such, I'd advise you to speak first to an attorney. I traded some emails with Hawley Strait, a commercial and real estate attorney at Bernstein Shur, to discuss a few important tips.
This Mainebiz article features Bernstein Shur attorney Hawley Strait.
Please see full article below for more information.
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