The Challenge of Working with a Third Party - A Landlord's Perspective

As Landlords and Property Managers, there are a multitude of challenges we face (and endure) from all angles of our business. Some are more tangible than others. One of these hurdles can be working with a 3rd party in the lease. What I mean is when your tenant agreement is signed by a "parent" organization and their "sibling entity" becomes your tenant.

Parent company funding that is filtering through your tenant is not under your direct control. You also are unaware of communications and internal issues between the parent company and your tenant until you are made aware (usually at the boiling point)...then the lawyers come in.

Best practice is control the contract - You control the lease, its terms, its conditions. Document everything...Follow protocol to the letter and even if there is family feuding going on, you won't wear the pie in the face in the end.

Has anyone had similar experiences and would like to share?