In this Cebu’s booming real estate industry, more and more commercial and residential buildings are constructed and rented to businesses or individuals.
Let’s admit it, some renters are not religious in paying rentals. Owners on the other hand sometimes let the violation of their lease contract pass by without doing anything.
But this is income lost already, and something should be done to correct it.
The first thing to do: Send your renter a notice to vacate. This has practical and legal purposes.
Practically, this is to remind the renter of default payments. Sometimes these people are juggling things, that they tend to forget especially if the owner is lenient.
Legally, this is forms the basis for filing a case for ejectment in court.
All in all, the owner has rights as much as the renter. Owners should assert their rights. Opportunity cost is forgone if righs are not asserted.