For Shopping Malls, Is Yorkdale’s “Snobbery” Simply A Sign Of The Times?

Assignment of Rents

An assignment of rents lets lenders collect tenant income directly if a borrower defaults, providing extra loan security.

Assignment of Rents

September 30, 2025


What is an Assignment of Rents?

An assignment of rents is a legal provision in a mortgage or loan agreement that gives the lender the right to collect rental income directly from tenants if the borrower defaults. It serves as additional security for lenders.

Why an Assignment of Rents Matters in Real Estate

Assignments of rents matter in real estate because they protect lenders by ensuring income from investment properties can be redirected to cover loan payments in the event of borrower default.

Example of an Assignment of Rents in Action

A landlord defaults on their mortgage for an apartment building. The lender enforces the assignment of rents clause, collecting tenant rents directly to apply toward the mortgage balance.

Key Takeaways

  • Gives lender rights to collect tenant rents on default.
  • Provides additional security for mortgage lenders.
  • Common in commercial and investment property loans.
  • Triggered when borrower defaults on obligations.
  • Helps lenders recover loan payments through rental income.

Related Terms

Additional Terms

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Mortgagee in Possession

A mortgagee in possession is a lender who takes control of a property after borrower default, but before foreclosure or power of sale. The lender. more

Lease Surrender Agreement

A lease surrender agreement is a negotiated contract between a landlord and tenant that ends a lease before its scheduled expiration. Terms may. more

Green Infrastructure

Green infrastructure refers to natural or engineered systems that manage stormwater, reduce heat, and improve sustainability in developments.. more

Escrow Holdback

An escrow holdback is a portion of funds withheld at closing and held in escrow until specific conditions are met, such as completion of repairs,. more

Underused Housing Tax

The Underused Housing Tax (UHT) is a federal annual 1% tax on the value of vacant or underused residential property owned by non-resident,. more

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