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All I'll say is that if somebody signs a lease they should read and understand the terms before signing. If they have the poor judgement to lease a property they can't afford or aren't sure they really want to live there for the term of the lease then they shouldn't sign. Once the lease is executed both landlord and tenant are bound by the terms of the lease and by rental law in that jurisdiction.
I can't help feckless people who commit to a lease and then change their minds later. If I remember the OP the tenant is barely into the beginning of the lease. Best thing the tenant can do is appeal to the landlord for better terms than are stated in the lease. Being a landlord myself I have no pity on such people because each time I change tenants I have to do a move-out inspection, document the property (usually a couple hundred pictures), repair what is necessary, then have my Realtor relist the rental and pay a new rental commission when it is leased, and let's not forget vetting new tenants.
If the landlord didn't screen properly then maybe this will serve as a lesson.
All I'll say is that if somebody signs a lease they should read and understand the terms before signing.
If they have the poor judgement to lease a property they can't afford or aren't sure they really want to live there
for the term of the lease then they shouldn't sign.
And when their circumstances later change? Then what?
The nature of the changed circumstances are almost immaterial.
What's at issue isn't whether things need to be done. Of course they do.
The issue is in HOW the things that need to be done - get done.
You are being irrational Mr. Rational. A contract is a contract. It is a legally binding agreement. Both parties are expected to meet the terms they agreed upon when the contract was signed.
If the tenant breaks the lease the landlord is going to suffer a financial loss. What makes you think the landlord can handle the loss any better than the tenant?
You are being irrational Mr. Rational. A contract is a contract. It is a legally binding agreement. Both parties are expected to meet the terms they agreed upon when the contract was signed.
If the tenant breaks the lease the landlord is going to suffer a financial loss. What makes you think the landlord can handle the loss any better than the tenant?
I have two words for the tenant: Buck up!
Yes, it is. And any standard contract will include provisions for breaking the contract. Because most people know that life happens and most of us suck at predicting the future.
Notice is required to be given at the beginning of the month and they vacate at the end of the month. I want my lease/vacate to be at the end of the month.
I'm legally required to mitigate on a yearly lease. But legally I do not have to accept a lesser tenant to take the place of a departing tenant. Not that I would. I have the requirements I have from years of not doing it right teaching me lessons. Sometimes very expensive ones. I'm not doing anything illegal. I'm actually following the law to the letter.
I'll tell you what. When you put hundreds of thousands of YOUR own money on the line feel free to make whatever rules and acceptance policy you want to make. Hand over the keys to a 550,000 dollar property to a guy who makes 2x rent amount has bad credit and a eviction. Let's see how well you do.
Or am I supposed to take whatever a tenant decides?
Rational, there is no freakin' way a landlord can change tenants without costing money. Or at least I can't, and IMO it would take a genius of a landlord to accomplish it. At minimum unless the tenant is phenomenal they won't leave the house in a ready to rent condition, e.g. same cleanliness as when they moved in. I've never seen that happen although a few nice tenants have come close. The majority require a thorough house cleaning and carpet cleaning. Second, I have been fortunate that in maybe two times (out of more than a dozen tenant changes—I rent houses) I always lose at least a month's rent while my mortgage, insurance, property taxes, yard and pool maintenance expenses continue, plus I must pay utilities when properties are vacant. Finally, due to my circumstances I cannot show the properties in person (and anyway I want them in the MLS) so I have to pay my Realtor a commission.
It costs me a minimum of $3K to pay for a vacant property with a 1 month vacancy, and nearly $2K/month for additional months. And all that time I'm looking for a tenant that appears to be responsible and credit report indicates they can probably pay the rent. I always give my best faith effort to find the next tenant whether it's a normal move at end of contract or a tenant who broke their contract early.
You are either not a landlord, or you are the most smartest and capable landlord imaginable. Somehow I think you are not.
I'm sick of bickering over whether a vacant property or a tenant change costs the landlord in additional expenses and lost income. Please feel free to continue this ridiculous argument without my participation.
Just remember: the world isn't what you wish it to be. In rentals and leases the world is just two things: the lease and the rental laws applicable to the jurisdiction the property is located in. Everything else is fanciful thinking.
...there is no freakin' way a landlord can change tenants without costing money.
And? Who said there weren't costs?
The question is to what degree those costs will vary between now and 8 months from now.
Inconvenient? You bet. Materially greater costs? Not buying it.
It's Wednesday September 6 and your tenant just told you he has to go.
Good reason. Bad reason. No reason at all. Doesn't matter.
He'll be packed up and gone by the end of the weekend. Call that Sept 10
Whatever you need do to have that place ready for the next tenant...
should be able to be done by the end of that week. Call it Friday Sept 15.
If any of that work is attributable to the tenant... you have deposit money for that.
But remember this is one of your wonderful tenants and you've been monitoring
upkeep and condition and heck that's all why you just renewed his lease 3 months ago...
Among those things to do though is to fire up your advertising to show it on the 16th.
You find someone to move in by Oct 1 and you're golden.
But if you can't the costs clock doesn't start until then.
If you need that Oct 1 rent check... you'll get it done.
If you don't the timeline might stretch out a bit. Sometimes it will need to.
That's the business you're in.
I'm sick of bickering over whether a vacant property or a tenant change costs the landlord in additional expenses and lost income. Please feel free to continue this ridiculous argument without my participation.
It's not really a question of whether or not there is a cost associated with turnover. Turnover is costly in any industry.
But it isn't the tenant's fault. Nor is it their responsibility to mitigate that. It's not the tenant's responsibility to make sure you make a profit. As has been said previously, legally contracts can be broken. Tenants aren't evil or out to get you simply because they need or want to move.
Financial loss is a risk of doing business. If you don't like it, then don't do business.
I do know one thing: hating/resenting your customers doesn't tend to be very profitable.
Sure it's the tenant's fault. The tenant agreed to a lease and signed it. Now the tenant wants to move before the end of the lease.
How is any part of that the fault of the landlord? The landlord still wants to rent the property to the tenant. The tenant doesn't want to rent it any more but signed a lease committing to renting it for the lease period. The tenant wants to be let out of their contractual responsibility.
The tenant should have rented a property where a lease was not required. It's called month to month. In that arrangement the tenant usually gives 30 day notice and can then move out with no penalty.
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