Landlord Legal Tools In Washington: A Distress Bond

distress bondBeing a landlord comes with its own challenges. Challenges that seem to grow larger when moving from residential to commercial properties in Washington. Some of the toughest areas is in the collection of rent and the eviction of those who do not pay it.

Economy Plays A Role

A shaky economy affects the ability to collect rent no matter if it is rent owed on a house or on a retail space in a mall. Tenants are finding it difficult to make ends meet when costs continue to rise. Money is tight all around, sure, but a landlord has a right to collect on money owed and to find another tenant who can produce the rent without delay.

Some business ideas will make it. Some won’t. A landlord evicting a commercial tenant isn’t saying that they disapprove of the business idea or model, they simply want what the rental agreement states: the rent.  

Always Protect Tenant Rights

The landlord’s right to collect rent does not negate any rights held by the tenant, however. Courts still protect tenant rights in Washington. Due process must be followed. A business has a right to their shelter akin to that of an individual.

Landlord’s can’t change the locks and withhold the key simply because they are upset about not being paid.

Evicting a commercial tenant can cause further financial harm to the business or company. State statute is specific about protecting all parties in the situation to ensure no unnecessary harm is done.

Court Approval Of Distress

When a commercial landlord attempts to evict a renter in a retail or commercial space they may be required to post a distress bond.

Courts in Washington consider a distress bond pertinent in order to protect the defendant should they find the distress of rent wrongful.

A lawyer working a case in Seattle, Vancouver, Spokane or any other incorporated town in Washington may use a distress bond to help cover their client, the plaintiff, so a new tenant - or the payment of the owed rent - can be handled quickly.

Distress Bond Specifics

On average the bond amount for a distress bond in Washington is twice the amount of distressed rent. The premium will be two percent of the surety bond.

Any questions about a distress bond can be answered by a member of the Jurisco staff. Landlord’s who are considering evicting a tenant who is renting a commercial property must be sure to cover all their bases.

Remember, the eviction process is rarely a pretty one. A distress bond is a further step of protection that a landlord may use to cover all their bases so they can make the process as smooth as possible for all parties.

Trust the Surety Bond Experts

The Jurisco lawyer-trained staff are here to help you today.