Tenants Breaking Lease
My tenants informed me that they want to break one-year lease after only 3 months citing personal reasons and bad planning. Which would leave me with a vacant apartment in December. I hold one month security deposit but it seems to me that wouldn’t be enough to cover my loses and a headache.
My tenants informed me that they want to break one-year lease after only 3 months citing personal reasons and bad planning. Which would leave me with a vacant apartment in December. I hold one month security deposit but it seems to me that wouldn’t be enough to cover my loses and a headache.
I broke a lease a couple of years back. First thing I did was contact the management company and ask what the deal was. They said for that particular apartment, I probably wouldn’t have trouble finding a tenant for them. I contacted the brokerage that I used to find it and asked them to find the replacement tenant. It cost me half a month’s rent because I moved out mid month so the landlord could make sure it was in tip top condition for the new tenants. The management company even advised how I could buff out the scratches in the hardwood floors. I made sure that the apartment was spotless all the time so the brokers could show prospective tenants through. I moved out April 15, the new tenants moved in May 1, the landlord didn’t lose a penny. I also tipped the super generously on the way out to make sure I wouldn’t have any issues.
If I were you I’d tell your tenants that they’re responsible for finding an acceptable new tenant, and that they could contact local brokers and make the apartment available to the broker to show. If the new tenants end up paying less rent the original tenants are responsible for the difference for the remaining part of their lease. When you sign a contract, you have to honor it.
I’ve gone through this from time to time (although, not 3 months in).
Having just gone through it with a tenant who wanted “out” after 9 months a couple of months ago, I advised the tenant that she was responsible for finding an appropriate tenant OR she would be responsible for fulfilling her year’s lease.
I’ve done this before, and it works out well. Outgoing tenant does the advertising on Craig’s List and showing and after it’s been winnowed down to a handful of appropriate applicants who are interested, I step in and do the rest.
Although I haven’t done it in years, you may also want to list it with some local realtors….nothing to lose — not even time, if you make it the current tenant’s responsibility to show the apartment.
Make them move out early in the month, and keep their security deposit.
Suing them is pointless.
Just like Christopher said …What does your lease say? If they signed a 1 year lease than they are bound to that. I would let them know that legally they are responsible to pay for the year but if you can rent it you will let them out. I recently had a tenant that needed to get out early so I told them that I would break the lease as long as I could get someone to rent in their place and they needed to show the unit…U should post the place on craigslist making it avail 12/1 but mention that it can be avail sooner if needed and let the tenant show it..this way everyone wins b/c if they can’t afford it ..u don’t want to deal with the headache anyway.. and u have a tenant who shows the property off prob better than u would b/c they want to leave. Good luck!
I’m looking for a rental for Dec. How big is the apartment?
VRBO.com does short-term leases if you decide to go that way. I tend to agree w/ Snappy & gem.
I agree with Snappy
or perhaps – if they are a couple – they might be breaking up and cant afford to live there
sometimes it’s just best to cut your losses and start fresh with new tenants
keep the deposit
Do their personal reasons/bad planning involve a money shortage on their part? If so, let them go. You’d do better to have an empty apt. to try and rent than to have an occupied apt. with renters who can’t/aren’t paying you.
If you didn’t provide an out-clause in the lease (I give my tenants a 60 day notification option of they want to leave) then they are legally bound to the full term.
Tell them they either have to stay the full term, since they are bound by the lease, or at least until you find a replacement.
Their bad planning is not your fault, they are responsible for the lease.