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Can You Recover Unpaid Rents For Last Year’s Skipped and Del...

Sue McConnachie   |     Jan 30, 2024

During recent economic challenges and uncertainty, the number of Skipped and Delinquent Tenants is on the rise. Being a property manager brings with it the potential for serious risk, liability and consequences at a time when the scales of justice seem tipped in favour of the delinquent tenant. Once a tenant has gone delinquent, property managers must decide whether to proceed with legal action, and after all, if there is minimal probability of recovering the debt, why incur the costs of legal action?

Identify Your Delinquent Tenant’s Assets and Liabilities

Sue McConnachie   |     Sep 16, 2022

Begin the debt recovery process - identify your delinquent tenant's assets and liabilities. Being a property manager brings with it the potential for serious risk, liability and consequences at a time when the scales of justice seem tipped in favour of the delinquent or "bad" tenants. Once a tenant has gone delinquent, property managers must decide whether to proceed with legal action and after all, if there is a minimal probability of recovering the debt, why incur the costs of a suit? The QCS “Asset Accumulation Report” is designed specifically with your skipped and delinquent tenants in mind. It is the most comprehensive report offered in today’s market and has been successful in assisting the property management industry in making decisions regarding the next course of action.

The “Asset Accumulation Report” will identify assets and liabilities and locate the tenant for service purposes. This report will help make decisions at different stages, from the time the tenant first falls into arrears to the time the tenant makes the midnight move. The report assists the landlord when dealing with a rent abatement situation or considering terminating a tenant's lease for unpaid rent. To take legal action or not?
 
This complimentary guide presents the information you receive in our Asset Accumulation Report.  We explain the relevance of the information included, how to interpret the data, and we offer insight into sections that can be especially helpful in making informed decisions. 
 
In this eBook, you will:  

Approving the Tenant, Assignee or Subtenant in Todays Sublea...

Sue McConnachie   |     Sep 13, 2021

It is difficult to assess the full impact on the commercial market, created by the Covid-19 interruption. However, it is predictable that there will be substantial increases for subleasing and assignments, particularly in the office market. With the spread of Covid-19, brought the shift to work from home, leading certain departments to operate remotely with productivity success. Tenants are now exploring downsizing current space through assignments and sublets.

Where Are We Headed with Delinquent Commercial Tenants?

Sue McConnachie   |     Sep 02, 2021

Many months after the initial covid shutdowns, courts continue to hear disputes over unpaid rents between commercial landlords and tenants. With stay-at-home orders and so many restrictions on non-essential business activity, many tenants across the country have struggled to meet their lease obligations.  

INCREASED TENANT RISK DUE TO ECONOMIC INSTABILITY IN THE WAK...

Sue McConnachie   |     Sep 21, 2020

Prospective Tenants – Ensure you Have the Best Possible Risk Screening

Do you have all the information you need for negotiations with your potential tenant?

The financial implications of having a tenant default on a lease can be severe and often a simple database “snap-shot” only reveals a part of the prospective tenant’s financial story.

During these uncertain times, when it's becoming increasingly important to do a thorough background check on tenants, our team at Quality Credit Reporting provides the tools you need to protect your business and make informed decisions about prospective tenants.

Due Diligence for Skipped, Delinquent and Renewal Tenants Du...

Sue McConnachie   |     May 05, 2020

SKIPPED AND DELINQUENT TENANTS

During these un-precedented times with COVID-19, the numbers of Skipped and Delinquent Tenants is on the rise. Being a property manager brings with it the potential for serious risk, liability and consequences at a time when the scales of justice seem tipped in favour of delinquent tenants. Once a tenant has gone delinquent, property managers must decide whether to proceed with legal action, and after all, if there is minimal probability of recovering the debt, why incur the costs of legal action?

Due Diligence for Handling Rent Relief Requests

Sue McConnachie   |     Mar 30, 2020

During these unprecedented times, comes the issue of your tenants’ short term or long-term inability to meet rent obligations, leading to important decisions you will now have to make.  We understand that it may not be in the best interest of the landlord to close a tenant’s door and begin to find replacement tenants during a time when leasing activity is at a serious slow down.  Landlords will have to choose if it is in their best interest to consider rent relief if doing so keeps a tenant open and operating in long and short term, and how that may protect the long-term economic viability of a property.  

Understanding Consumer Insolvency vs. Bankruptcy

Sue McConnachie   |     Mar 05, 2020

According to the Office of the Superintendent of Bankruptcy; “Consumer insolvencies for the 12-month period ending December 31, 2019, increased by 9.5% compared with the 12-month period ending December 31, 2018. Consumer bankruptcies decreased by 1.2%, while consumer proposals increased by 17.9%. The proportion of proposals in consumer insolvencies increased to 60.3% during the 12-month period ending December 31, 2019, up from 56.0% during the 12-month period ending December 31, 2018. For the 12-month period ending December 31, 2019, consumer insolvency filings accounted for 97.4% of total insolvency filings.”

What to do With Your Skipped and Delinquent Tenant

Sue McConnachie   |     Feb 26, 2020

Being a property manager brings with it the potential for serious risk, liability and consequences at a time when the scales of justice seem tipped in favor of delinquent or “bad” tenants. Once a tenant has gone delinquent, property managers must decide whether to proceed with legal action, and after all, if there is minimal probability of recovering the debt, why incur the costs of a suit?

Why Use an Asset Accumulation Report?

Sue McConnachie   |     Oct 18, 2018

Why Use an Asset Accumulation Report? Is money owed to you by another party? Do you have a skipped or delinquent tenant? Are you looking into ways to collect that debt? Are you trying to enforce a judgment? Are you considering legal action? Don’t make a decision just yet.

Before proceeding, it is important to consider the benefits of an Asset Accumulation Report in your decision-making process. 

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