I got a call yesterday morning from the daughter of a client who owns a commercial property.
Her tenant is behind in the rent
By early yesterday afternoon we had a draft demand notice prepared seeking:
- payment of the rent arrears;
- interest which is accruing at 15% p.a, or $4.55/day; and
- our legal fees, all of which are recoverable under the terms of the lease.
Failure to comply within 14 days will result in termination of the lease, and liability of the company and the guarantors for rent while a new tenant is found.
For Default Notices, see Michael Paterson & Associates