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Old 11-28-2012, 02:00 PM
 
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Just signed in August (renewal), now they want to move out in February. They bought a place.

Landlords, wdyd typically?

thanks
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Old 11-28-2012, 03:22 PM
 
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What does your lease say about early termination?
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Old 11-28-2012, 05:22 PM
 
Location: The Triad (NC)
23,881 posts, read 51,387,644 times
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Quote:
Originally Posted by 071402 View Post
Just signed in August (renewal), now they want to move out in February. They bought a place.
A lease isn't a sentence to servitude it's just a contract.

Quote:
Landlords, wdyd typically?
You make reasonable accommodations with this "cost of doing business".

You shouldn't be "out of pocket" from the exercise but beyond recovering any actual expenses
associated (advertising, vacant period, etc)... there is no justification to slam them for additional
fees or charges.
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Old 11-28-2012, 05:26 PM
 
Location: Simmering in DFW
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I would let them out of the lease as soon as acceptable new tenants were secured but they, of course, would need to pay rent until the new tenants lease began and they would of course need to be cooperative as far as having the place clean and available for showing.
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Old 11-29-2012, 04:27 AM
 
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Quote:
Originally Posted by Squirl View Post
I would let them out of the lease as soon as acceptable new tenants were secured but they, of course, would need to pay rent until the new tenants lease began and they would of course need to be cooperative as far as having the place clean and available for showing.
Well, problem is landlord (me) pays a month fee to broker each time a new tenant comes in. If and when I try to rent without a broker, it takes MONTHS. = huge financial loss.
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Old 11-29-2012, 05:36 AM
 
7,874 posts, read 15,574,958 times
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Quote:
Originally Posted by 071402 View Post
Well, problem is landlord (me) pays a month fee to broker each time a new tenant comes in. If and when I try to rent without a broker, it takes MONTHS. = huge financial loss.

It takes months for you to find a tenant? Really? Why so long?


Anyway, your lease should have a early termination clause and you tell them that you expect them to follow it. Most have a 2 mths rent penalty, some have a pay the balance in full, some have a you pay rent until it's rented..it all depends on what you put in your lease.
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Old 11-29-2012, 06:57 AM
 
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Thanks Kim. Not sure. Maybe I don't advertise in right places.... Seems to rent in about 3-4 few weeks with a realtor broker, but then it costs $$ to pay broker. Where do you advertise your rentals?
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Old 11-29-2012, 07:30 AM
 
Location: Baltimore
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I charge two months and prorate back if someone moves in during that window.
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Old 11-29-2012, 07:42 AM
 
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Davecj: will try to word that in next lease. CAn you post that clause?
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Old 11-29-2012, 07:56 AM
 
Location: The Triad (NC)
23,881 posts, read 51,387,644 times
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Quote:
Originally Posted by 071402 View Post
Well, problem is landlord (me) pays a month fee to broker each time a new tenant comes in.
If and when I try to rent without a broker, it takes MONTHS. = huge financial loss.
Go over this tenants application and credit report.
See if you can identify any clues that they were likely to be a short term tenant.

btw... how many properties do you have?
I never had more than 3 at one time but always did the advertising and reviews myself.
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