Three day notice and security deposit

[Michael Wirsching]

Just issued a three day notice to pay rent or quit to a tenant that has consistently been late in paying. Rent is due on the first of the month and the three day was given at day seven. Tenant wants to vacate and stated that she will be out by the 15th. Since, in effect, the landlord is terminating the lease in this case via the 3 day how is the security deposit handled. Half of her security deposit will go toward unpaid rent but can I keep the remainder as a penalty since this whole thing is caused by her violating the lease due to lack of payment?

Our lease states that tenant can terminate early, but has to give 60 days notice and pay rent until new tenant is found. It seems like such a loophole in favor of the tenant that because they haven't paid rent and we want them out that they avoid the whole termination clause. So am I correct in saying that the quit option supersedes the termination clause in the lease?

Property is in Georgia.

[Jon Holdman]

First I would NOT accept a statement by the tenant they were going to be out by the 15th. I would tell them three days means three days. If they want to avoid eviction, they need to be out by the 10th or else I start eviction on the 11th. Your state may vary, but that's the CO timeline. If you start the process and they're out by the 15th you can cancel. If you don't start the process and the 15th rolls around and they say "we'll be out by the 20th", you're just losing more money.

The deposit accounting varies by state. This is really one of those conversations you should have with your attorney. My lease says failure to give property notice incurs a lease breaking fee. I'd double check with my attorney, but I'd take this as "improper notice".