| Commercial Real Estate
What is the name of your state (only U.S. law)? Alabama, Louisiana, Mississippi. Sorry for the multiple states however we have properties in each of these states. My question is in reference to year end CTI reconciliation billings. For the year ending 2008 we have many tenants who have a credit due for the year end CTI reconciliation. Many of these are in the $2K to $5k range. My boss has elected not to notify these tenants of the credit due to them.
Here is a copied and pasted Lease Clause that refers to this. (d) Lessee’s share of all the foregoing costs shall be payable upon the first day of the month following issuance of an invoice by the Lessor to the Lessee as the costs are incurred. Lessor shall have the right to estimate the annual costs provided for in this paragraph, including Lessee’s prorata share thereof, and Lessee shall pay to Lessor said estimated share in monthly installments at the same time and place as the monthly minimum rent are required to be paid, without demand. Lessor shall render an annual statement reflecting any under- or over payments by Lessee; any deficiency resulting from any underpayments shall be due and payable within ten (10) days from date of said statement, and any over payments shall be credited against future estimated installments due by Lessee.
My questions is are we breaking any laws? I know morally we are wrong, but I am not sure about legally.
In years past the tenants have pretty much owed additional monies, so I do not expect any to call and ask where their billing is. My boss has said if they call and ask we will give it to them.
For the record I do not agree with this at all. I am very upset that my boss is doing this. I have lost all respect for him and I will be seeking a new position with a new company.What is the name of your state (only U.S. law)? | 
06-30-2009, 11:27 AM
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