personal guarantee

[richie]

I am a building manager in New York State. One of my tenants was behind on the rent. He bounced a check for 300 dollars. when i went to inform him of it i found that he moved out over the weekend. He did sign a personal guarantee. My question is how do i pursue the collection of back rent owed and the rent lost for the vacant apartment.

 

[Gail_in_Georgia]

If you believe the unit is truly vacant, focus on getting it rerented.

Once this occurs, you can consider suing the former tenant for the back rent, the bounced check and for the remaining months it took you to find another tenant. However, in order to do that, you need to know his new address where he can be served notice of the lawsuit.

Gail

 

[jharris352]

As usual, Gail is right on target. First you need to mitigate your damages and then you can sue for what you actually lost.