Over the weekend I was discussing with another investor friend on his shop which had around 3 months rental arrears. He was saying the tenant refused to negotiate to move out equipment from the shop.
The tenant even threatened to call lawyer and make police report, saying that the equipment in the shop was worth 270K based on some noname auditor, pushing the blame of the loss of equipment to my friend.
Since the tenant doesn't not want to surrender the shop and threaten police report. My friend also had to do police report. The company is a Sdn Bhd so is still much easier to sue and settle. If the company has got multiple shareholders it will become much complicated because shareholder always put the blame on the other shareholder, so there's no single point of contact.
Here's a scripted police report that can be used :
PADA 05/01/2012 SAYA PEMILIK KEDAI DI ALAMAT XXX KEPADA RESTORAN TomYamGood (Elnino KPT:940114-02-4121) COMPANY REG NO: 0024592281-V TEMPOH 1 TAHUN DENGAN KADAR BAYARAN BULARAN RM 3000. PENYEWA TIDAK MEMBAYAR SEWA DARI BULAN MAR SEHINGGA AUG 2018 YANG BERJUMLAH RM 18000 TUJUAN LAPORAN DIBUAT UNTUK TUNTUTAN SEWA DARI PENYEWA DAN SEKIRANYA PENYEWA ENGGAN MEMBAYAR SAYA AKAN RUJUK PIHAK MAHKAMAH, SEKIAN LAPORAN SAYA.
Don't ask me why need to type in big caps but all the police reports are always in CAPS. The details inside have been changed to protect the innocent (?).
Well lots of people don't see the ugly side of property investing, there will be ups and downs. Good times don't last and if you in a bad time, good times are just around the corner.
At the end, my friend and the tenant manage to strike out a deal. My friend gave the tenant longer grace period to move out.