Abandoned Property: Residential & Commercial Tenancies

Abandoned Property: Residential & Commercial Tenancies

By: Judy Cook Cook & Company, Ltd. Mentoring Property Managers

Abandoned Property: Residential & Commercial

? 2012 All Rights Reserved.

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Overview

One of the most challenging tasks for a Property Manager is dealing with the personal property left behind by a tenant who has vacated a unit, whether residential or commercial. At the conclusion of this course, the participant will know he/she must turn to state and local laws for guidance in dealing with (1) abandoned real property, (2) abandoned personal property in a residence, (3) abandoned trade fixtures and personal property in a commercial unit, (4) abandoned vehicles, watercraft, and other property. Further, the participant will know the proper steps to take in dealing with abandoned property in the most common scenarios.

Instructor ? Judy Cook

Judy Cook is an author and instructor of pre-licensing and continuing education courses for Property Managers throughout the United States. She is actively licensed in Nevada as a Broker and Property Management Permit Holder, with over 25 years' hands-on experience managing both commercial and residential properties.

Judy began teaching, training, and consulting property management professionals in the early 1990s, and is well-respected as one of the industry's leading providers of timely and useful information to her students. Judy is an active member of the National Association of Residential Property Managers (NARPM), and an ITI and REEA-trained instructor. She has dedicated her professional efforts over the last several years toward enhancing the professionalism of the property management industry.

Please note: Judy Cook is not an attorney. Nothing in this course is intended to be construed as legal advice. Please consult your own counsel on all legal matters.

Abandoned Property: Residential & Commercial

? 2012 All Rights Reserved.

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WHAT WE WILL COVER

3 Questions...

Abandoned Property: Residential & Commercial

? 2012 All Rights Reserved.

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IS THE HOME ACTUALLY "ABANDONED?"

Imagine this scenario:

The tenant is delinquent in his rent payments. You drive by the property and notice the window coverings are all open ? you can clearly see into almost every room of the house. You park and get out of your car to inspect the property more closely, and a neighbor comes up and proceeds to tell you how the tenants moved out in the middle of the night a few weeks ago. Is it reasonable to consider the dwelling abandoned?

Abandoned Property: Residential & Commercial

? 2012 All Rights Reserved.

Page 4 of 16

ABANDONMENT OF REAL PROPERTY: COMMERCIAL

Most states provide that the lease between a commercial landlord and tenant will govern the issue of abandonment of the premises. However, some states have adopted specific language addressing abandonment:

Must the rent be delinquent?

Abandoned Property: Residential & Commercial

? 2012 All Rights Reserved.

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