Lease dictionary
Assignment of rents
A loan provision that lets a lender collect the rent from a property if the owner defaults on the mortgage.
This phrase comes from mortgages, not from your lease. If your landlord stops paying their lender, the lender can use an assignment of rents clause to redirect your rent payments to itself.
It's different from assigning a lease, where a tenant transfers their own lease to someone else. If you get a written notice to pay rent to a new party, ask for proof before paying, since fake payment-redirect notices are a known scam.
Watch out
Don't change where you send rent based on an email or text alone. Ask for written notice and confirm with the landlord or property manager.
See it in action
The Rental scam detector puts this term to work for you.