Breaking A Lease
So far I have had two tenants break my lease in the last few months - most recently the guy basically told me and my partner he was doing it regardless of what we thought or said. It seems that it is all too easy to get away with it....especially if you are able to rent the unit quickly and they leave the place in decent shape.
I was just wondering if i could get some feedback based on some of your experiences.......
I have also had some of this recently.
It has forced me to read several State Landlord/Tenant Documents recently. I suggest you start w/that.
My understanding has been that you could charge the tenant with all expenses resulting in the re-renting of the unit. However, I am seeing some codes state that 60 day notice is all that is required to break the lease. I know it is in your best interest to re-rent as quickly and efficiently as you can. You are allowed to deduct the costs of the re-rent (advertising) to your tenant in this case.
Ok - so I am not alone. I was starting to wonder. The problem in this area is there is alot of competition and the vacancy rate is higher than in some areas like CA., or big cities like NYC. These people have quite a bit to choose from so your place better be nicer than most if you expect to rent it quickly. Then you are lucky to get a full months deposit in some cases - with apts running in the 600 dollar range you usually end up with tenants who dont have good credit and can barely come up with a deposit. Most recently I had to rent to someone who is going to pay me the deposit in installments. The landlording business is just not what I had expected Well at least with regard to muli-units. My SFR that I have rented I rarely have a problem, but then again I am dealing with people who can pay a higher rent and are on a different socio-economic plane so dont generally have these issues. At least hasnt been my experience yet. Anyhow, nice to get input/feedback from you all. Happy renting!!!
-Pat