Updated almost 4 years ago on . Most recent reply
Terminating my first lease. Please help!
I've purchased three rental properties since 2018. I've been very fortunate that all three still have the original renters. Two of the renters have been great, but I have constant problems with one. I get complaints from the HOA that their grass it too long, the flowerbeds have weeds, they have a broken down car out front, etc.. They are also ALWAYS late on the rent (shame on me for not enforcing late fees)! Their lease is up in May and I don't want to renew it. What should I do to make this process as painless as possible? Should I tell them the reasons I'm not renewing or just make up an excuse? Should I tell them asap so they can plan or just tell them 60 days before their lease ends? I'm so worried that they won't take care of the house between now and when they move out! I do have one months rent as a deposit. Any advice?
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- Real Estate Broker
- Cody, WY
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Take proactive measures:
"Dear Tenant,
Your lease will expire on [DATE] and we do not plan to renew. Rather than wait for the termination date and rush to find a new rental, I am offering to let you out of your current lease early, without penalty, under the following conditions:
- Must give at least 14 days notice of your termination date in writing. If you leave faster than that, you will still have to pay for the full 14 days of rent and utilities;
- If you choose to depart early, I will not charge any termination fees;
- After you are out and return the keys, I will conduct a move-out inspection and handle your security deposit in accordance with State law.
Landlord"
- Nathan Gesner
