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Unfortunately, at some point you may have to evict a tenant or pick up the pieces if a tenant abandons its space. It’s hard enough to have to regroup and find a new tenant quickly. But being forced to take on an undesirable tenant—one with a bad credit rating or that doesn’t help the synergy you have established at your shopping center or some other part of your business plan—is worse. And if you’re in one of the many states that force owners to try to lessen—that is, “mitigate”—their damages when a tenant defaults, that could happen.
