Sunday, July 4, 2010

121. Performance counts in the real world

Text message to the Tenant's Agent c.c to me:

"There is a prospective tenant willing to pay 11K fr the aptmt n yr tenant is deprivd my owner opportunity to show the aptmt this is breach of the terms n conditions of the tenancy agmt thanks."

The players in this real estate rental stage are:
Tenant: A multi-national corporation
Tenant's Agent: Dominic
Occupant: A Japanese family
Landlord's Agent: Barry
Prospective Tenant's Agent: Shirley
A friend of Barry: Myself


Situation:
In the tenancy agreement, the Tenant agrees to permit the Landlord to bring prospective tenants to view during the last month of tenancy at times convenient to both parties. However, Dominic had been saying that the Tenant would not permit any viewing. So Barry thought that the best way would be for viewing to be done when the Tenant vacated the property.

"That is not the right thing to do as it is not in the interest of the Landlord who entrusted you with his property exclusively," I said to Barry. "You have to be proactive and get a new Tenant before the lease expires. Otherwise the Landlord loses a month or more when you start viewing after the Occupant leaves."

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