Laundry Room Lease Expiring... PLEASE HELP
I just bought a 6unit apartment building last year. There is an existing 10-year lease in place on the washer and dryer in the utility room that finally expires next year. The lease automatically renews for another 10 years if I dont notify them 12 months prior. I am trying to do so by registered mail as stated in the lease but they did not pick up the registered mail or sign for it. They are also not returning my calls. They figure that by making themselves "scarce", the lease will renew for another 10 years. Any ideas????
Yeah, explain to your tenants that the laundry room is temporarily out of service and put a big padlock on it and a sign saying how to contact you. When the laundry service contacts you to find out why they have been locked out explain that you've been trying to reach them and that they need to accept service of notice of the non-renewal of the lease before you are going to unlock the door.
I would also document your attempts to contact them. Making a "record" could prove invaluable if they threaten legal action or anything else.
Charley
This is pretty common for laundry companies to pull this lame approach. I used to be a controller for a hotel with a similar contract. They were local in Evanston, so I stopped by on my way to work and hand delivered it.
I am just getting a new bldg. What's your opinion on lease vs own ?
Thanks
Does the bldg. currently have leased equipment in place? If so, the laundry leases will follow the bldg. you are buying, of course. Check out Sears and Home Depot Direct for decent prices on commercial laundry equipment.