Our Landlord won't verify rent payments for mortgage company.. (real estate, renters)

[Jps226]

Is this required?

My wife and I are breaking our lease to purchase a home as we are expecting in early 2019. A third party company reached out to our landlord for rent verification and he refused to verify our rent history because we are breaking our lease.

Our mortgage lender said that he has never had a landlord refuse to provide verification of rent in his 21 years of lending.

Any feedback would be greatly appreciated.

Best,
John

[cruitr]

Are you breaking your lease under the terms of the lease or are you just walking away?

[reenzz]

There are no laws that require him to cooperate with verification. Ask your lender if you can simply show your receipts for rent as verification that you paid.

[EIL9]

What a d!ck. Show the lender your bank statements.

[cruitr]

Originally Posted by EIL9

What a d!ck. Show the lender your bank statements.

If someone quit making payments on a car you sold and financed to them, would you verify the payments they made? I wouldn't. I'd repossess the car and ding their credit.

[USDefault]

Originally Posted by cruitr

If someone quit making payments on a car you sold and financed to them, would you verify the payments they made? I wouldn't. I'd repossess the car and ding their credit.

Bad analogy. These renters didn't "buy" property -- they are renters, period. And if they have been solid tenants, paid on time, landlord should provide the verification. As for your follow-on comment about "repossess the car," well, that's exactly what is going to happen: these tenants will vacate, and the landlord will repossess. Hence your remedy is subsumed by what actually happens when a real estate lease is terminated early.


Circumstances change. People change. It is not unusual for a lease or property rental contract to be broken early. I've done it, and offered concessions. For example, these renters could forfeit the deposit, possibly pay an extra month's rent while the property owner seeks new tenants. Sounds more than acceptable for a change in circumstance.

[cruitr]

Originally Posted by USDefault

Circumstances change. People change. It is not unusual for a lease or property rental contract to be broken early. I've done it, and offered concessions. For example, these renters could forfeit the deposit, possibly pay an extra month's rent while the property owner seeks new tenants. Sounds more than acceptable for a change in circumstance.

Let's hear what these renters do in exchange for breaking their lease. I'm fine with forfeiting their deposit. I'm fine with paying an extra month rent. But do you think they are really going to do that? I'll bet you a $1 they are going to just walk.

My only hope is their landlord dings their credit before they qualify for a mortgage and they don't get the chance to screw someone else.

I too have broken leases but I've always made my landlord 'whole.'

[jnojr]

Originally Posted by Jps226

My wife and I are breaking our lease to purchase a home as we are expecting in early 2019. A third party company reached out to our landlord for rent verification and he refused to verify our rent history because we are breaking our lease.

Don't you have checks, bank statements, etc. showing that the rent was paid?

That said... as a landlord, while I think s/he's being petty, I completely agree with the sentiment. It costs money to prepare and market a unit, and every day it sits empty is a day the landlord cannot collect. I know a lot of people think, "So what, that greedy SOB kept raising the rent, serves him right, he can swallow a few bucks!" But most rental property owners are not awash in cash, raking in obscene profits, etc. They still have a mortgage, insurance, HOA dues, repair bills, taxes, etc.

The moment you knew that living there was no longer tenable (ie. when your wife saw the + and you knew the place was too small or whatever), you should have gone immediately and filled him in. I would never ding a tenant who gave me six months' notice they had to break a lease... I'd be very appreciative of the opportunity to make sure everything was ready to go so I could market it and have a new tenant starting as soon as possible after you left. And I'd give you a good reference and verify your payments.

[bloom]

Originally Posted by cruitr

Let's hear what these renters do in exchange for breaking their lease. I'm fine with forfeiting their deposit. I'm fine with paying an extra month rent. But do you think they are really going to do that? I'll bet you a $1 they are going to just walk.

My only hope is their landlord dings their credit before they qualify for a mortgage and they don't get the chance to screw someone else.

I too have broken leases but I've always made my landlord 'whole.'

As USDefault said, you don't really get it

[cruitr]

Originally Posted by bloom

As USDefault said, you don't really get it

What don't I get? That breaking contracts and screwing people is wrong?