Properties Magazine March 2017 : Page 15

the three-day notice since any ambiguity concerning whether the payment was intended to cover past-due or future rent will be resolved in the tenant’s favor. the bank should issue a check to the clerk of courts for the amount in the account if it is less than or equal to the amount owed in the judgment. 5. Keep records of the tenant’s bank accounts. One way to collect a judgment against a tenant for unpaid rent or other damages is to attach the tenant’s bank accounts. To attach a bank account, the landlord needs to know where the tenant banks. A landlord should request disclosure of bank accounts as part of the lease application or negotiation process. The landlord should require the tenant to keep bank account information on file with the landlord up to date. The landlord should also keep records of checks received from the tenant. Using the tenant’s banking informa-tion, the landlord may file attachment paperwork with the court and serve the bank. The bank must then file an answer with the court stating how much money was in the account at the time the attachment was filed. If there is money in the account that is not oth-erwise exempt from attachment by law, 6. Obtain a personal guaranty of the commercial lease. Another important tool to use to collect upon a commercial lease judg-ment is requiring an officer of the teeing all obligations of the tenant company under the lease, including payment of rent. In order to collect on a personal guaranty, the individual who guaranteed the lease obligations must be named as a separate defendant in the lawsuit to enforce the lease. These six tips certainly are not the only strategies for efficiently recovering possession of the premises and past due and future rent, but they are among the most effective. A landlord who utilizes these strategies will increase the chances of ousting the defaulting tenant, recovering rent and re-leasing the premises to a paying tenant. P The material appearing in this article is meant to provide general information only and not as a substitute for legal advice. This article may not be reprinted without the express permis-sion of Buckingham, Doolittle & Burroughs, LLC © 2016. Litigation, Creditors’ Rights & Bankruptcy and Oil & Gas attorney Matthew R. Duncan can be reached at 330.258.6547 or mduncan@bdblaw.com. Litigation, Oil & Gas and Real Estate & Construction attor-ney Michael J. Matasich can be reached at 216.736.4224 or mmatasich@bdblaw.com. An under-utilized provision in commercial leases is one that allows self-help repossession of the premises. Ohio law allows self-help repossession upon [certain] conditions. tenant company to sign a personal guaranty of the lease obligations. The personal guaranty language can be in its own section of the commercial lease or an addendum. The personal guar-anty language should be capitalized or in bold print and clearly state that the individual is personally guaran-Partnership is the reassuring voice that always answers the call when you need it most; it’s the collaboration between your team and ours that fuels your success; it’s having someone who’s focused on helping you get the job done. To us, partnership isn’t just a word; it’s what we work towards. visit BDBLAW.COM/rec to learn more www.propertiesmag.com 15

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