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Updated over 7 years ago on . Most recent reply

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11
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10
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Brandon Stewart
  • Real Estate Broker
  • Amarillo, TX
10
Votes |
11
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Tenants reluctant to sign leases

Brandon Stewart
  • Real Estate Broker
  • Amarillo, TX
Posted

I just picked up a commercial property to manage with 23 units. The owner is a good old boy who does most business on a handshake and has been letting tenants pay late, getting months behind in some cases.

Most tenants do not have a lease or any kind of documentation. I have been chasing my tail to get any of them to respond to letters with requests for information, tracking them down in person, 

Any ideas to get these tenants to sign a lease without coming off as a 300 pound gorilla? The owner being the way he is and having relationships and personal interaction with them and his tendency to make deals on the fly may undermine my actions. 

I have no problems being the "heavy" but would like to finesse rather than intimidate and get everyone on the same page. Ideas anyone?

Most Popular Reply

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2,614
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2,104
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Kim Meredith Hampton
  • Real Estate Broker
  • St Petersburg
2,104
Votes |
2,614
Posts
Kim Meredith Hampton
  • Real Estate Broker
  • St Petersburg
Replied

@Brandon Stewart these types of arrangements are probably the most difficult to take over and be successful doing so. Owners like this tend to not let go, even though they say they "are ready"!!! If this owner doesn't stand behind you 100%, you will have problem and after problem. It's like telling a child no, then they run to daddy because he will give them the answer They want to hear. 

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Engel & Völkers | St. Pete
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