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  • Writer's picturekarimfakhreldeen

Should the landlord collect deficits at the end of each accounting year?

Some landlords or managers may neglect to collect deficits when identified at the end of the accounting year and have allowed them to accumulate. If the lease states that the deficit must be demanded on an annual basis then the landlord has a contractual obligation to comply with this. It is not regarded as good practice to allow deficits to build up and ideally they should be recovered at the end of each accounting year even if the lease does not specifically say so.

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