Collect Lost Rent If Tenant Leaves Space in Unrentable Shape

Are you fully protected if your tenant moves out at the end of its lease and leaves the space in such terrible shape that it’s unrentable right away? Your lease probably requires the tenant to pay for any costs and repairs that may be necessary, but that may not be effective to cover all of your losses. For instance, if the space sits vacant while you take six months to repair it, you would wind up not collecting rent—but you would still have to pay taxes and utilities.