Are Your Premises Secure?
July 27th, 2009 by Jim Cotterman
Beware of the troubled landlord who is not maintaining their properties, paying property taxes or are late on its mortgages. This CNN Money article on commercial real estate mortgages identifies the worrisome trends — declining rental rates, increasing vacancies as well as delinquency rates four times higher then they were in the 2nd quarter of 2007. The article focuses on the issue as it relates to banks. However, tenants do not want or need the hassle of a landlord in financial distress either. Much more careful due diligence of landlords and the underlying investors is warranted if you are considering a move or even a lease extension or renewal.
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