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Updated over 10 years ago on . Most recent reply

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180
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Chris Heeren
  • Investor
  • Janesville, WI
155
Votes |
180
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Keeping security deposit when tenant breaks a lease

Chris Heeren
  • Investor
  • Janesville, WI
Posted

I just had a tenant tell me today that they are breaking their 1 yr lease and will be out of the house this weekend.  I'm thankful that I won't have an eviction but was wondering if anyone out there keeps the security deposit if they break the lease or if this is even legal. It will most likely go until the first of next month until it will get rented out which is an entire month without rent.  Any thoughts? 

Most Popular Reply

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1,638
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Cal C.
  • Investor
  • Peachtree Corners, GA
1,060
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1,638
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Cal C.
  • Investor
  • Peachtree Corners, GA
Replied

This is almost a jurisdiction specific question.  Hopefully someone from Janesville will see this and answer.   In a majority of cases (far from all though) from what I've read over the years on this site and another site, you will be able to charge (deduct from sec dep) the tenant for any damages and any rent not paid until the end of the lease or until you get it rented again.  Judges will expect you to try to lease it asap. Also you may have a very hard time collecting on any judgment against the tenant for any rent/damages beyond security dep, so it usually behooves you to get it back on the market quickly.

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