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Assuming you have a city/county/state standard lease in place, there should be language if it that defines what happens in this situation.
Depends on the lease and rights based on locality, but people’s lives change and they have to break leases sometimes. If they give you 30 days notice and forfeit their deposit, it’s likely your responsibility to fill the property with a new tenant to replace your rental income.
If they can help you fill it sooner so you have no gap in rent, then you could consider still returning your deposit but again, depending on lease terms may not be obligated to since they broke the lease.
Understood. I meant if I’m able to rent it within the first two months of them vacating, I’ll return whatever prorated portion their last months/deposit back to them (provided the unit is still in good condition). Appreciate the input though, hopefully it rents quickly
PM could handle these issues better as they have the resources. I would tell the tenant that they are forfeiting their deposit and last month’s rent by breaching the lease agreement (assuming the lease doesn’t have a clause regarding early termination). I would begin showing the unit now. If it’s in half decent shape in a half decent market you should have no problem having someone move in within 30 days. You really wouldn’t be out of pocket much if at all in that scenario. *Not legal advice*
Hoping it will rent, but the topic didn’t come up so I want to be prepared. The lease says they will be liable, but in the case that they don’t pay, I want to know what others think!
Also need to weigh effort to chase down remaining rent, especially if you go down the legal route.
This happened to me before and my tenant helped himself and me by reposting the rental listing to his network. He eventually found his replacement.
Yeah, it’s just the deposit. They aren’t going to keep paying.
Coach
If they are willling to keep paying I’d ask them to abide by the lease. But if they refuse I probably wouldn’t go to court over it. You’d win though. So maybe wait and see how long it takes to release and if that’s worth it.
Subject Expert
- what’s the out clause in the lease?
- what’s the eviction policy in Florida?
If there’s no out clause, and they stop paying, then you evict. It’s not a fun process, but their sudden “need” to move out doesn’t automatically remove them from their contractual obligation
Nope. I’d just tell the tenant that you will use the deposit and rent to cover it, and start your search immediately. Collection efforts without a proper property manager are tough. IM for more info.
Yes. My PM has done amazing with collections for my 36 units. They also have systems built in and don’t get personal with the business of people owing me money.