From the penthouse all the way down to the bottom, rumor has it that the condo market has officially bottomed out. Now, granted most of these rumors are coming from individuals who have a particular stake in the economic recovery of the condo and housing market, but the general consensus is that somewhere in 2008 the condo market will scrape the bottom of the barrel and then begin its upward slide again.

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credit: Daquella maneraAlmost every landlord runs across this problem at least once in their career, their tenant is late with the rent. How you handle this situation depends on you, the tenant, your contract and the laws of your state. Your lease probably contains a forfeiture clause in the event that the tenant does stop making payments, and even if you don’t have a lease or it doesn’t have a clause the law generally accepts this as a stipulation of all landlord tenant agreements. But this may not be the path you wish to follow, in fact, in most situations you can resolve the problem through other means.
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