Corporate Housing Company Has Dissolved, Yet Still Has Tenants In Our Rental

[Matthew Strickland]

Hello BP Community! My wife and I own a rental property that we decided to rent through a corporate housing company in August of last year. They contacted her and said they could provide above market rent due to using long term corporate housing. It was our first experience with a corporate housing company and we ran the numbers and decided to give it a try. Fast forward to end of 2022 and we hadn't received any of the guaranteed payment from them and the company was making excuses as to why they weren't liquid enough to pay us. We consulted with an attorney who sent a 'Cease and Desist' letter in January. Company did not respond and we were preparing to take them to court.

Today, the company emailed us stating they're dissolving the company due to financial hardships. This is a huge financial loss to us as we invested much money up front and they're only offering about half of our money back. Not to mention the lost income from the months they didn't pay us the agreed upon amount. When we inquired about current renters, they told us people paid them to remain through end of March and we would receive payment after they've left. We want to get the current tenants out as they have a contract with the corporate housing company and not us. Frankly, they should not be able to stay there any longer but wanted to get some advice on next steps:

1. How do we go about getting the tenants out of our home since the company is dissolved-shouldn't the contract with the renters be as well?

2. Should we pursue a lawsuit to recoup the remaining funds? Or is this a lost cause due to company saying they're financially bankrupt and even if we win the case, they will likely not pay.

Any and all advice is welcome! Thank you