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If a tenant defaults on a lease (e.g., failure to pay rent on time, damage to the premises, keeping a pet when it is not part of the lease, etc. ) then the lessor can evict the tenant. At that point, the lessor can demand the full balance of the lease be paid immediately.
Enforceability varies from state to state. You should see a lawyer specializing in landlord/tenant law if you are caught in this situation.
Avoid any lease that has what appears to be an "Acceleration" clause.
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Is rent a debit or credit?
If you are paying rent it is a debit. If you are a landlord receiving rent its a credit.
What is the journal entry of rent income?
rent due to landlord
What particles can be accelerated by a linear accelerator?
electrons and protons
What is a deferred rent payable?
Deferred rent payable is the sum of the difference between a monthly rent payment and the monthly rent expense of an operating lease that contains escalated payments in future periods. The rent expense is the sum of all rent payments over the term of the lease divided by the number of periods contained in the lease otherwise known as straight-line amortization. This rent expense amount can/may differ from the monthly rent payments. The difference is deferred rent payable.
Is rent a tax write off in Wisconsin?
Personal rent...no.
