washer/dryer lease with outside company
Hi,
When I acquired my building there was an existing lease with a 3rd party to provide a coin-operated washer/dryer. The revenues are supposed to be split 50/50 and the company handles collections and maintenance.
After 6 months I finally received my first payment from them and was completely underwhelmed. I called the billing department to get a little history. The previous owners averaged $5/day in collections vs. $1/day they were showing me! I suspect theft (in addition to poor customer service).
Am I obligated to maintain this lease? I did not sign anything with them. The contract they have was entered into with the previous owner. I have only received one payment to date.