1 of 3 tenants wants out of his lease and asked about his security deposit

[Dave Godfrey]

Hi guys. I have a group of three young professionals living in a property. I have a ten page plain-language lease that states the lease will renew for another year if the proper notice has not been given. I received an email today with a two week notice of moving out (so 5/31). He was supposed to give 60 days notice.

He asked about security deposit. The other two guys are staying... but I don't know more than that. I have a the security deposit at a local bank. The bank statement for the security deposit comes to me (I provided the bank with the names of all three tenants when I set it up).

I want to be fair... but I think I want to avoid setting a precedent though too. Overall they have been good tenants in the first year.

Thoughts on how you would handle this situation?


Thanks!
Dave