Canada Landlords Association

Tenants halt the swing of the wrecking ball

July 2011

Property owners wanted to develop land to take advantage of new economic opportunities.  The problem is existing buildings were full of leased tenants says a recent Globe and Mail story.  This can create problems says John Crombie, a national retail director with real estate brokerage Cushman & Wakefield Inc.

“The terms and conditions of a lease are binding on the owner of the property,” he sayss. “If a lease has been executed and a tenancy has, say, 10 more years without any termination issues, then it’s a fight. If the tenant doesn’t want to move, and refuses to play ball, the landlord can really be in a pickle.”

Read more Tenants halt the wrecking ball’s swing

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