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1.Sea Shore Development Limited owns 30 Apartments which in 1980 it agreed to lease to its tenants at 25% below the rental stated in the
1.Sea Shore Development Limited owns 30 Apartments which in 1980 it agreed to lease to its tenants at 25% below the rental stated in the lease for the first year of the lease due to the difficulty in maintaining full occupancy.The tenants paid the reduced rent for the first year and then began paying the full rental as stated in the lease. Finding itself short of incoming cash to finance new projects the company demands from the tenants the 25% rental it had agreed they would not pay for the first year. Advise the tenants.
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