Review of Tenant's books - Landlord Forum thread

Review of Tenant's books by Linda Foster (CO) on July 5, 2012 @17:32

I Lease a building as a restaurant in TN. I live in CO. Tenant is way behind in rent. Lease states that Landlord has the right to review the “books” at any time. How or who should I find to go over Tenant's bookkeeping? Should I send this person to the Tenant's CPA? Can (and should) I somehow make this a “surprise” visit, (so they don't have time to change the books)?

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Re: Review of Tenant's books by Anonymous on July 5, 2012 @17:58	[ Reply ]

What does your attorney say?

Re: Review of Tenant's books by NY-LL on July 5, 2012 @20:25	[ Reply ]

The most important issue is that the commercial tenant has not paid rent and a notice of violation or notice of intent to terminate the lease agreement is the first order of business. In order to enforce a lease agreement clause, the landlord should address the matter of "reviewing the tenant's books" with a written letter request. However, since the landlord does not know how to enforce their own lease agreement or the lease clause it may be a moot point. (Not certain if the lease clause is even legal or enforceable.)

Re: Review of Tenant's books by Bryan (Ia) on July 6, 2012 @01:00	[ Reply ]

Commercial rentals are normally a different animal than we deal with here. The laws that prevail are those where the tenancy occurs.