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I came across this by luck. I have a client that living in an older apartment complex that he just brought to my attention they have some sort of document(promissary note) that bypasses his lease. I've never heard of anything like this and I was wondering if its legal and if there is anything he can do about it. I'm planning on scanning it. Anyway, anytime anyone in the complex has to pay the rent late. Say for example, the tenant tells the management company in advance they will be a day late or they swapped jobs and say the rent will be on a certain date. They will forceably demand the tenant sign this a custom made "promissary" note that basically says if they for whatever reason not make the payment on that date stated. The landlord can surpass the lease and immediately take possession of the apartment and everything inside. No court, no eviction, and no other proceedings. Apparently, they force people to sign it saying they have no choice. When he told me, I told him the only legal thing they can do is get mad and file for an eviction. Besides, the obvious of just not being late, things happen and this seems to stomp all over peoples rights. This really upset me as I thought about all the small families and single parents that might have feel victim to this trap and then sadly could not make the full or any of they payment on that date and did it at a later date. Then they legally lost anything. Is this legal? Is there anything that can be done to stop them? Here is main part of that document: RESIDENT understand and agrees that failure to pay the amounts due as stipulated herein will result in MANAGEMENT taking possession of the Premises occupied by the RESIDENT: that possession is granted by the RESIDENTS signature attached hertoe: that RESIDENT reaffirms and ackonowleges that they surrendto management the Premisies upon RESIDENTS failure to pay the amounts due as stipulated herrein; that RESIDENT reaffirms and gives MANAGEMENT the right to take possession of the Premises; that possension may be taken without further notice by RESIDENT or any othe party or jursidiction, legal, or otherwise is required. etc.. Theres more but thats pretty much the main part of the concern. Now don't get me wrong. I know hell stick to his agreed upon late period and pay when he stated. But isn't this illegal? Isn't this him giving up his rights on this lease? I know maybe I'm the one really upset about this letter now. Thinking about all the other people in that complex that might have been "got" or actually lost thier apartments agreeing to this. Am I overreacting?
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