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Updated almost 10 years ago on . Most recent reply

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63
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Joshua Rogers
  • Investor
  • Collinsville, IL
22
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63
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Return the Deposit

Joshua Rogers
  • Investor
  • Collinsville, IL
Posted

To keep this brief, I will simply highlight that a tenant agreed to another 6 month lease beginning in January 2015 (agreed via text...perhaps not the most legally binding, but nonetheless).  They decided to move this month after giving me 30 days notice, and I didn't mention the 6 month lease at that time (for fear they wouldn't pay their rent as a way of utilizing their deposit for rent).  So, they broke the lease 3 months early.  Rent is $1350 a month.  Disregarding damages and a few other issues at the property, does the single fact that they broke the lease entitle me to keep entire deposit? (essentially they owe 3 months rent, for a total of $4050.)  Thanks for the help.

Most Popular Reply

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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
ModeratorReplied

@Joshua Rogers

 I know it can be tough to be tough with a tenant. It is human nature to want everyone to like us. But owning rental property is a business, and you should treat it as such.

BP is an awesome resource. NoNonsenseLandlord.com is another one. Eric writes for BP, and has a no-nonsense approach to rentals. He really tells it like it is, and while he may seem harsh, he doesn't have much hassle in his rentals. 

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