Cancel lease?

Question

I made a newbie mistake when I rented my house out. I told the tenents that after 6 months if they wanted to move, I would let them out of their lease. Well it's been 6 months and they want out. I have some new tenents lined up and should be signing a lease today. How do I go about canceling the lease I have with the first tenents? Should I just shred the first lease (I have a copy, they have a copy), or should I draw up some type of cancelation form? Also, should I do that before I sign the new lease?

David Albertson · Answer

Thanks for both of the replies. It wasn't a marketing tactic, it was me opening my big mouth and trying to be a nice guy. I'm learning. Today we signed a cancelation and the new lease, so all is well. Besides I don't think a verbal agreement would hold any water in front of a judge anyways. But, now I know to keep my mouth shut. If it comes up again, I'm keeping the deposit at the very least. Thanks again for the quick replys.

Bartstop

Michael Rossi · Answer

Bartstop,

Both parties, you and the current tenant, need to sign an agreement terminating the lease and detailing when they are to be out.  Shredding your copy of the lease does absolutely nothing.  They still have at least one copy.   Definitely do NOT sign a lease with another tenant until this lease is terminated.  It would be a big mistake to have 2 active leases on the same property.

Good Luck,

Mike

Kyle Gregory · Answer

was it a mistake? or was it a marketing tactic to get someone to lease the place?  after all you already have someone lined up so i wouldnt sweat it!!!     So does the orignal lease state that they can get out of the lease after 6 months?  worst case I would sign and have them sign a lease cancelation....  but then again I am not a lawyer, nor did i stay at the holiday in express  :lol:     But talking to a lawyer would not be a bad idea.