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Warning of Default on Commercial Lease Alabama Form

Warning of Default on Commercial Lease Alabama Form

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[Music] thank you in tough Economic Times lease defaults can become a real concern for landlords and tenants but there are steps you can take to minimize the impact of default the most important thing to do is remember to be proactive don't wait for the problem to get worse address it as soon as it arises tenants should communicate with their landlords right away if they anticipate defaulting on their lease it's important to note that defaulting on a lease doesn't just mean failing to pay rent it can also include failing to fulfill other obligations under the lease agreement such as Property Maintenance landlords also have a responsibility to mitigate damages this means taking steps to minimize the financial impact of the tenants default such as trying to re-rent the property another option is to restructure the lease this could involve altering the lease terms such as changing the payment schedule or reducing the rent this needs to be mutually agreed upon and t

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