RE: Tenant want to break signed one year lease
1. tell them no.
2. tell them yes, let them terminate just like the lease was over.
3. tell them yes, but you'll keep their deposit,
4. tell them yes, but they'll have to make up any lost rent until the place is rerented.
5. tell them yes, but they'll have to make up any lost rent until the place is rerented and the cost to advertise and any fees.
6, Tell them they will have to find someone to take over their lease. You'll still do a background check.
7. Offer to reduce the rent.
8. Offer to reduce the rent, but your keeping the deposit.
9. be creative and try to find something that works for both of you. Just sign new lease spelling out the changes. Is long as you both agree.
Posted by
Scott H, VA
on
Thursday, August 8, 2019
RE: Tenant want to break signed one year lease
...while the advice given by Scott H. is both direct and correct - typically, a court (should it come to that) rarely allows more than three months of rent upon lease break unless there are EXTREMELY unusual circumstances.
Posted by
Matthew M, IL
on
Monday, August 12, 2019
RE: Tenant want to break signed one year lease
Our tenants JUST did this. 4.5 months into their 12 month lease. For the same reason. We gave them the option to pay the early lease breaking fee or help us find some one to rent it by the first. That meant, they had to show it when ever we had people ready to view it. If it doesn't rent by the 1st, we are keeping their deposit. We *should* have new renters in by the 17th. So we are not out any money. Good luck.
Posted by
Amanda c, TX
on
Monday, August 12, 2019
RE: Tenant want to break signed one year lease
amanda c, How much of a fee do you usually charge them for breaking their 1 year lease?
Posted by
KIMBERLEY M, MT
on
Wednesday, August 21, 2019
RE: Tenant want to break signed one year lease
Follow these things if a tenant wants to terminate the lease early-
1. Verify the reason behind early termination. A tenant can break the lease only for a legitimate reason.
2. Review the lease with tenants. Technically tenants are responsible for remaining rent payments until you find a new tenant.
3. If an existing tenant is recommending any new tenant as their replacement, keep them only after following a tenant screening process.
4. Also, prepare your rental property for tenant turnover.
To know more, visit SGP Multifamily: https://www.sgpmultifamily.com/
Posted by
Tommy r, NY
on
Friday, October 11, 2019
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