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Updated 1 day ago, 12/18/2024

User Stats

13
Posts
11
Votes
Jason Seay
Pro Member
  • Rental Property Investor
  • Edmond, OK
11
Votes |
13
Posts

what to do when a couple splits up and one stays in the property?

Jason Seay
Pro Member
  • Rental Property Investor
  • Edmond, OK
Posted

3 bed 2 bath house.  lease is up in May 2025. Couple is splitting up and one is wanting to stay.  The one leaving is paying 1/2 of the rent through 5/31/25.  So my questions are:

Do I write an addendum to the lease with just one person?

What about the security deposit?  I will do a walk through with the one moving out when she leaves but he will still be there until May.  Not sure if I will renew his lease.  Thinking of selling and 1031 to something else.

My thoughts are to do an addendum (but not sure how to word it since she will have pre-paid her part until may) and let them figure out the security deposit between themselves at the end of the lease.

Any input is appreciated.  

  • Jason Seay
  • Loading replies...