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Commonly Asked Questions about Default on lease notices

The Default Clause in Lease Agreements Lease agreements often include a default clause, which outlines the actions to be taken if either party fails to meet their obligations. For tenants, this usually pertains to unpaid rent, while for landlords, it might involve the failure to provide a habitable living environment.
A default is a failure to comply with a provision in the lease. Curing or remedying the default means correcting the failure or omission. A common example is a failure to pay the rent on time.
If your business defaults on a lease, it means that you fail to comply with one or more provisions in the leasing agreement. When this happens, your landlord sends your company an official letter. They have the right to hold you accountable for any missing payment and damages associated with your default.
When a tenant is in default, the clause allows the landlord to collect the remaining amount of rent and evict the tenant. The default clause should outline how the process will work. Most clauses dont consider tenants in default until at least five days after the rent was due.