Commercial property owners always have to be careful with their rentals. Unlike an apartment complex that has multiple tenants and a quick turnaround time to re-rent, companies that default on their lease cannot be replaced as quickly, and often represent a substantial portion of the money that the property owner used to pay back their own commercial property mortgage.
That’s why property owners almost always rent to businesses with a good financial history, preferably companies that are already established and can prove financial viability. At the very least, property owners want to see proof of concept, so that they can be more confident that the lessee will not default on their rent.
When the Unthinkable Happens
Unfortunately, even the best companies can occasionally default, and often times when they do they will simply vanish – taking what they can grab and running rather than dealing with the consequences. As a property owner, this can be extremely stressful, because you depend on that rent to pay for the property and your own personal bills.
What Can You Do?
In some cases, the only recourse is legal action – filing a lawsuit against the business and requiring they pay the money owed. But in some cases you may be able to recoup some losses by taking out a lien on the products, machinery, and other property that remains in the building and selling it at auction.
There is a lot of value in leftover items. Products can sell for near-retail. Machinery often has incredible value to similar businesses. Even signs can have value, depending on the original company. If these items are left inside of your building, you can put a lien on those items and sell them on the open market, recouping as much value as possible and avoiding any problems paying back your loan.
Sell Your Recovered Property at RL Liquidators
RL Liquidators is the #1 choice for property owners looking to recover from a defaulted tenant. RL Liquidators is a property liquidation company, but unlike other companies, RL uses online auctions to help reach more buyers in a larger area in less time. When you sell your former tenant’s items through RL Liquidators, you’ll receive:
- The maximum value of the property.
- Cash quickly back in your pocket.
- Excellent service and support.
We’re the premier lien liquidators in Northern California, and with our online auctions we are one of the only liquidators that can reach people all over the country. If you need to liquidate lien recovered items quickly and get the most value for your money and time, contact RL Liquidators today.