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> Twitter hasn’t paid rent on its headquarters, or any of its other global offices, in weeks, the New York Times reported on Dec. 13. Isn’t rent paid once per
by joegahona 4y ago
> Twitter hasn’t paid rent on its headquarters, or any of its other global offices, in weeks, the New York Times reported on Dec. 13.
Isn’t rent paid once per month? When I was a renter, this could’ve been said about me literally every month, once two weeks had elapsed between payments.
- gdpr2022ap 4y ago[dead]
- deleted 4y ago[deleted]
- deleted 4y ago[deleted]
- phpisthebest 4y ago[flagged]
- autophagian 4y agoIt likely means that the rent payment is overdue by weeks.
- deleted 4y ago[deleted]
- redtexture 4y agoCommercial leases specify payments and default deadlines.
- rsfern 4y agoAccording to the landlord Twitter is supposed to have been “in default” on their lease as of Dec 21. It’s like the second sentence of the Bloomberg article we’re commenting on, before the subscription fold.
- phpisthebest 4y agoI would be interested in knowing how many other tenants this landlord has chosen to file suit on when the tenant is 7 days over due (in default in 21st, filed the suit on the 29th)? Seem very aggressive. I wonder if politics has any bearing on their choice to file? Or the fact that Elon has publicly been considering closing the SanFran HQ?
- sheepscreek 4y agoIt’s very likely this isn’t their first time running behind on rent.
- woodruffw 4y agoI assume they’re quick to file lawsuits with larger clients because of the correspondingly larger financial liability involved (large office space, large rent, unclear corporate finances). That seems like a very normal reason to be “fast on the draw,” all incentives considered.
- sschueller 4y agoDoesn't in default mean they had several reminders to pay and have now defaulted and invalidated their lease agreement?
- phpisthebest 4y agoAs soon as your 1 day late you are in default. Most organizations however give noticed and plenty of time before filing law suits thus my question. The "news" here seems to be lacking any context, and I assume bad intentions on the part of NY Times and Bloomberg so...
- jcranmer 4y agoThe article is too vague on details, and I don't see the actual court filing readily accessible (bad journalists! always give a link to court filings!). But given the timeline and the wording, it seems likely to me that Twitter has not paid its rent for November or December--in other words, it's not one, but two missed payments. If that is indeed the case, then I do not find it all surprising that a lawsuit would be so aggressively filed after the second missed payment. Even if not the case, Twitter has had very public issues which make it extremely likely that it is intentionally not paying the bills that are due. Thus, if the landlord wants to get its money, it either has to get Twitter to renegotiate its contract to one that it is willing to pay, or go to court to force Twitter to abide to the contract (including, potentially, invoking early termination clause). I don't know how much Twitter is behind on to this landlord, but the initial filing costs to the landlord are likely to be in the realm of a few thousand dollars, so it doesn't take much for it to be worth it to the landlord to sue pretty aggressively.
- itsoktocry 4y agoSo you think Twitter is being sued for non-payment of rent based on misinterpreted semantics?
- sieabahlpark 4y ago[dead]
- asne11 4y agoWhen it's 100x your apartment rent on the line, late payments don't happen. The landlord will be lucky to recover the costs they're collecting while rent remains unpaid. Edit: reminded me of this :-D https://abcnews.go.com/Business/bank-america-florida-foreclosed-angry-homeowner-bofa/story?id=13775638 https://abcnews.go.com/Business/bank-america-florida-foreclo...