Leases – Friend or Foe?

It depends. Kind of like Batman. Go with me here, it makes sense. Batman’s passion and duty are aligned: justice. Your lease? Same thing, if you can believe it. It’s ideally designed with the owner in mind, and all its fine print and confusing wordage is there to give you rights and protection. A safety net, just in case things go wrong.

Now, you may be asking, “Isn’t Batman a vigilante? Does that mean my lease is too?” Actually…yes. Sometimes your lease goes about getting you justice without a certain level of decorum typical of most superhero leases.

What I mean here is that, by working within the confines of the lease to maximize reimbursable expenses from the tenant, you get justice. You already paid CAM, and now your lease states how and when and how much the tenant owes you in return. The justice in this example comes from breaking even every month.

*** SPOILER ALERT*** Just like with Bruce Wayne AKA Batman (were you wondering if I would leak his secret identity?) – he doesn’t treat everyone the same and call that justice. Instead, he only strings the bad guys up from their boot straps .

On that note, your lease literally gives you the legal right to go after your tenants if they are being ‘bad guys’ by not paying their rent or causing other nuisances around your property. Your lease here is not only your most powerful ally, helping you navigate the legal challenges if you’re forced to evict, it’s also your badge and shield. That’s right, it’s your legal authority to put tenants in default, charge them late fees and, if needed, evict.

Because the truth is, bad tenants can cost you thousands of dollars and, more importantly, tie up the leasable space for months if not years.

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