T
The Positronic Pimp
Guest
My partnership owns and manages a number of commercial properties, small strip malls and the like. For this one particular unit, we had a fixed-term contract (3 years) due to expire about Christmas this year. For two years they paid their rent on-time and in full. After last Christmas they just locked up the shop, stopped trading but rent payments continued until now. This month the rent was not paid, we applied to the local authorities for right to reclaim the premises. My business partners want to call in debt collectors (the rest of the rental period is worth a little under $10,000) but I disagree - I have good reliable information saying that the tenant has left the country. My tax agent agrees with me, saying I am better off spending my time looking for another tenant.
What do you think I should do? Call in debt collection services or consider this a business loss? I have no experience in debt collection, but really don't like dealing with 'questionable' debt-collector types.
What do you think I should do? Call in debt collection services or consider this a business loss? I have no experience in debt collection, but really don't like dealing with 'questionable' debt-collector types.