General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated 7 days ago, 12/18/2024
what to do when a couple splits up and one stays in the property?
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.