with no seasoning on this model I suspect its some portfolio type lender.. but who knows maybe wall st is at it again.. now they know they have their bottom feeding hedge funds to  pick up the crumbs when their loans default  :)))

Why did you give a new lease when he was in default on the old one?

They already sent Default Letter!

Their default reaction is "no, its not allowed".

Here are some key reasons why tenant screening is vital:- Risk Mitigation: Effective tenant screening helps mitigate risks such as rental payment defaults, property damage, and legal issues.

There are predictions that we could see up to $800 Billion in commercial real estate defaults, meaning banks offer refi and the owners give the property to the bank rather than refi it.

The WLB lease (unless you use an ancient version) states that if nothing is done it defaults to a month to month.You can send them a Notice of rent increase (which you can get from WLB as well) sign an new lease, or do nothing and go mtm.I find that a 60 day notice from the tenant is not very helpful, most owners don't start showings until after the unit is vacant, so what's the point?

I don't know that I would be willing to roll that dice and if you have a mortgage on the uninsured property, it'll be in default as soon as they find out the policy is cancelled.

Failure to inform your lender and insurance could lead to complications, including potential policy voiding or loan default.

Vacant Land – Most land transactions are great for owner financing Tax Default – Usually means property is too much for the owner to handle and will often discuss other options like selling if we take the problem off their hands.