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Susan has a 60-day to 60-day lease at the sketchy condo she leases from me. Meaning I require 60 days' notice. She originally told me she want to lease the place thru April, which worked great for me because I planned to sell it in the Spring.
A few weeks ago she contacted me about another property I have that is going to be vacated at the end of November. She and her fiancee have an April wedding planned and his lease is up the end of December. They would like to lease my townhouse because it is larger and in a better location. He has completed the application and the Smartmove verifications and all is good. I am happy to lease the townhouse to him, his income easily covers 3x the rent.
However, Susan wants to leave the condo and move into the townhouse with her guy. That leaves me with a vacant condo. What would your position be as far as the lease termination on the condo? I do realize that this guy wouldn't have leased this townhouse w/o Susan's urging. And, because the present tenant is moving 11/30, I wouldn't likely get the place leased anyway until after the holidays.
So, do you think I should be ok with Susan ending the condo lease and moving into the townhouse, or do you think I should hold her to the 60-day notice on the condo, or something in between?
Last edited by WorldKlas; 11-20-2015 at 10:21 AM..
I agree with StrkAliteN but I would have her agree to clean the unit professionally so that it is move in ready when she leaves. Then you could either put it up for sale or re-rent more easily.
Susan has a 60-day to 60-day lease at the sketchy condo she leases from me. Meaning I require 60 days' notice. She originally told me she want to lease the place thru April, which worked great for me because I planned to sell it in the Spring.
A few weeks ago she contacted me about another property I have that is going to be vacated at the end of November. She and her fiancee have an April wedding planned and his lease is up the end of December. They would like to lease my townhouse because it is larger and in a better location. He has completed the application and the Smartmove verifications and all is good. I am happy to lease the townhouse to him, his income easily covers 3x the rent.
However, Susan wants to leave the condo and move into the townhouse with her guy. That leaves me with a vacant condo. What would your position be as far as the lease termination on the condo? I do realize that this guy wouldn't have leased this townhouse w/o Susan's urging. And, because the present tenant is moving 11/30, I wouldn't likely get the place leased anyway until after the holidays.
So, do you think I should be ok with Susan ending the condo lease and moving into the townhouse, or do you think I should hold her to the 60-day notice on the condo, or something in between?
Sounds to me like she should be worried about you...this whole thing sounds 'sketchy' at best.
Koale
Sounds to me like she should be worried about you...this whole thing sounds 'sketchy' at best.
Koale
Oh funny. I edited out some earlier sentances and that now sounds confusing. I had earlier put in some info regarding favors I had done for Susan that cost me quite a lot of money but at this point is water under the bridge.
There's a problem? She gives you a 60 day notice and that is all that is required with her current rental agreement. No matter what, she can leave you with a vacancy in the middle of the winter. If you don't want vacancies in the middle of the winter or in the middle of holiday season, you have to write leases that don't expire in the middle of the winter.
His lease isn't up until the end of December, so you are getting a month and a half notice, at any rate. They aren't moving until Jan 1.
I don't transfer security deposits. I transfer the balance of the deposit after all clean-u and repair is finished and charges deducted.
As for the small place that she is vacating that you don't want to sell for a couple of more months, you advertise: Moving to the area? Low cost short term rental where you can unload and look around. Mention storage if you have any available.
You'll get someone moving to the area who doesn't yet know where they want to live. Give them a 4 month lease and let them know they can't stay after that. I've done it that way and had applicants fighting over the unit and I'm in a lot smaller town than you are. A lot of people moving to a strange area want to look around before committing. Often they are buyers, who make better tenants than lifetime tenants do.
Last edited by oregonwoodsmoke; 11-20-2015 at 11:45 AM..
There's a problem? She gives you a 60 day notice and that is all that is required with her current rental agreement. No matter what, she can leave you with a vacancy in the middle of the winter. If you don't want vacancies in the middle of the winter or in the middle of holiday season, you have to write leases that don't expire in the middle of the winter.
The issue is Should I impose 60 days notice for her to move from condo to townhouse since they are both my properties and boyfriend is moving in to the other one or just not require the 60 days. He takes possession on 12/15
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hmmm...
