Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

5
Posts
0
Votes
Zoe Smith
0
Votes |
5
Posts

How to voidable lease

Zoe Smith
Posted

Hello

My tenant did not pay the balance of move-in costs by the due date after the contract execution.  Several unsuccessful attempts have been made to request payments and have received multiple excuses (could not find the checkbook or could not send electronic payment).  The tenants have not moved in.

At this point I just want to void this contract and move on.  How do I go about voiding the contract?  When can I offer the rental to the next applicant? 

Thank you.

Most Popular Reply

User Stats

28,076
Posts
41,085
Votes
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,085
Votes |
28,076
Posts
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
Quote from @Zoe Smith:

Use whatever communication methods you know will work. For example, if you've successfully communicate with them by text message, send them a text. As long as you have something in writing, you are typically covered.

"Dear Tenant, 

Our agreement was that you would meet all the requirements and pay the balance owed no later than May 25th. It is now May 30th and you have not paid the balance owed and are not responding to my communication. I hereby notify you that the agreement is terminated and you forfeit all funds deposited."

That's it. Then block their number, email, etc. If they try to reach out, ignore them. The only way they can come after you is if they sue in court, at which point they would have to justify why they failed to abide by the agreement or communicate with you.

In the future, I recommend you have a plan for this up front. My lease says they agree to pay all funds, set up utility accounts, and meet all other requirements no later than [DATE]. If they fail to meet those requirements within 72 hours of the deadline, I terminate the agreement and they forfeit any and all funds deposited with me up to that point. 

  • Nathan Gesner
business profile image
The DIY Landlord Book
4.7 stars
165 Reviews

Loading replies...