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property managers demands: i am tring to resell my restaurant, im the owner

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  • property managers demands: i am tring to resell my restaurant, im the owner

    i own a restaurant and lease the building, i sold my restaurant once to a family and sublet to them, they defaulted on the lease and there agreement with me. i legally took the restaurant back, based on abandedment and non payment. i had to catch up on the four months past due rent. meanwhile i am tring to resell my restaurant, i have had two potential buyers but the property manager says he wants finacial statement on any new buyers, so both potential buyers provided there finacials and the property manager reviews them and told me that the one buyer would have to put 20,000.00 in security deposit, and the other potetial buyer would have to put a years rent in a security deposit if they want to buy, these are the property managers demands. i also have another potential buyer that has been finacially cleared to secure his own lease but the property manager wants to raise the rent by two dollers a square ft. are these unreasonable or unusual request, and if you think they are, what recourse do i have?

  • #2
    Does your lease allow you to sell or sublet? Normally the property manager would not be reviewing the new buyer financials unless he has some express right to do so, or you are required to have his permission. What does your actually lease say?

    Greg Turner


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