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 7 months ago on . Most recent reply

User Stats

26
Posts
13
Votes
Brendan M Hornung
  • New to Real Estate
  • Santa Monica, CA
13
Votes |
26
Posts

Tenant Wants to Terminate Lease After 1 Week

Brendan M Hornung
  • New to Real Estate
  • Santa Monica, CA
Posted

Hello all, I had my first tenant sign a 12-month lease agreement at my property in Alabama on July 1. She has already paid rent and the security deposit but is requesting to terminate the lease after 8 days because her mother passed away. She works for her mother's business and needs to move back home.

I have read that my tenant is responsible for paying the rent until a new tenant is found. 

What I should do with the security deposit? Are there any other charges or legalities I should know of?

Any other advice would be greatly appreciated!

Most Popular Reply

User Stats

9,821
Posts
15,765
Votes
JD Martin
Property Manager
Pro Member
  • Rock Star Extraordinaire
  • Northeast, TN
15,765
Votes |
9,821
Posts
JD Martin
Property Manager
Pro Member
  • Rock Star Extraordinaire
  • Northeast, TN
ModeratorReplied

Two options we offer on early termination:

1. Early termination fee, which is one month of rent plus the deposit, assuming there's no damages, and they walk away clean.

2. They move out ASAP and they are responsible to maintain utilities and keep paying rent until you find a new tenant. How fast or slow that is depends on your market and price. 

We've done a few of these over the years and I've never had anyone pick Option #2. Option 1 is clean and easy and everyone walks away, and they don't have to maintain the utilities or the lawn while you are trying to find a new tenant plus keep paying rent. 

As far as just a clean cut away? No, that's too bad her mother passed away. You're not related to her mother. Let her keep paying the rent from the mother's estate if she needs to. Her family issue is not your problem; everyone dies at some point. 

PS: I've heard every excuse under the sun over the years. I wouldn't be surprised if there's no mother, or she's already dead, or living it up in Palm Springs. 

business profile image
Skyline Properties

Loading replies...