Receiving a Contact from Tenant at the End of Month
It’s scary day for the management company that end of a month is due date of informing cancellation of leasing contract, is latest day in a month to give the notice to the landlord. As rent will not be calculated by a day when canceling, is same to give a notice to the management company on the middle of month or end of the month.
As a management company, we receive those notices around end of the month, is not good contact for us. The lessee can cancel the leasing agreement with notified term, usually 1 to 3 months, can cancel it by a timing of lessee. After receiving those, we prepare the cancellation form in writing, will think about new condition for rent, and start procedures for finding new tenant.
If the rent is for residential, the timing is important that if it’s moving season, it’s not difficult to find new tenants but if it’s after the busy season, we need to think about the conditions again and try hard. If the rent is for business, if it’s for restaurants, it’s really bad situation that their business in current situation is not good, can’t operate the same way as it was before COVID-19, high cost but less customers.
This case, we received the notice from tenant, received notice of closing restaurant from who owner gave reduction of half of rent for 3 months. It’s mixed feelings that similar generation owner gave up the business, but we need to ask them to clean up the property and leave without paying rent delay. And we need to work to find new a tenant in promptly.
As the notice of 3 months in advance gave us a time for looking for a new tenant, hope to have minimum sales to the restaurant, can find a new business owner soon.
If you are looking for a place for a new business in Kyoto, please contact us.
Arrows International Realty Corp.