Is this legal? - Posted by jeff

Posted by River City on September 29, 2003 at 08:14:00:

Can you report her to the real estate commission? Sure, if that is what you want to do. It is your word against hers. And, why did you wait so long? If you had reported her when it first happened, it would appear more credible. In my opinion, reporting her now makes you look like a landlord who is bitter because you lost a tenant.

Please don’t take this as being rude, but, it sounds to me that you are blaming your ex-tenants for normal landlord/tenant problems. And, it also appears that you have been unable to find another tenant for the building.

These are the risks you take when you become a landlord. Learn from the situation. Make notes about what you did wrong, and also about what you would do differently if the situation were to present itself again, like insisting on a three-year lease. Then, move on.

Is this legal? - Posted by jeff

Posted by jeff on September 26, 2003 at 13:14:44:

I own a commercial building and I want the tenant to sign a 3 year lease so I can use the lease to refinance the mortgage on the building that his business occupies. The tenant says he will sign the 3 year lease but he wants to also sign another agreement saying that the lease is year-to-year and that he (the tenant) has to agree about extending the lease after each year otherwise the lease is over.

The tenant is saying that I can use the 3 year lease to refinance the building but I don’t have to show the mortgage company the other year-to-year contract. He said this is done all the time. Any advice?

Re: Is this legal? - Posted by Bill H

Posted by Bill H on September 26, 2003 at 15:28:53:


River City is right on and I would add that if I had this guy for a tenant he would be looking for other quarters very shortly. The sooner the better.

You might be next on his “Done this before list.”

Good Luck,

Bill H

Re: Is this legal? - Posted by River City

Posted by River City on September 26, 2003 at 14:19:38:

C’mon, Jeff. Does it really sound right to you? It has fraud written all over it. The mortgage company needs to see a “real” agreement, not one that is made up just for them. There is a reason for this. They are lending you a LOT of money and need to ensure that the money is going to be repaid.

There are heavy monetary and civil penalties for someone using fraud to obtain a loan.

Re: Is this legal? - Posted by John Merchant

Posted by John Merchant on September 26, 2003 at 19:31:41:

RC & Bill are right on. If you have to swear, or even state in writing that the lease is one thing, when it’s really another…that’s absolute fraud.

AAAAAAAAAND…if this guy knew you’d done it, he could blackmail you forever about having done it. So it cost you LOTS more than just telling the tukey to take a trot.

Re: Is this legal? - Posted by jeff

Posted by jeff on September 26, 2003 at 20:03:43:

Well, this may be spilled milk but I’m still mad about the incident and the incident occurred in the Fall 2002. The tenant ended up moving out of the building in December 2002. The year to year lease was too shady for me.

The tenant’s wife is a realtor and was the main instigator behind signing the year to year lease. Can I report her the real estate commission for this kind of conduct so I can get some satisfaction? Is it too late?