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Updated over 9 years ago,
Would you allow tenants to "overlap"?
Have a somewhat unique situation here.
Tenant got a job transfer out of state. Gave me 60 days notice. Moving out end of October.
Great tenant, pays on time, good communication, absolutely no issue. I am happy for her, even with the lease break I will give her a glowing recommendation.
However, on the business side, I have 4 months left on the lease, and end of October is hard to rent a place, it's practically dead until January.
The lease has a two month early termination penalty. I would have to charge that, then if I can find another tenant, I will refund everything back to her minus the days I lost rent.
Now, she has a friend of a friend who has visited her and expressed very high interest to rent her place. She is ready to sign the lease now even if it's almost 2 months away.
I will of course have to go through the process of having her fill out an application, background check etc etc etc...BUT there is a catch.
She needs a place sooner than it's available. If the current tenant moves out on Oct 31, I need a week to turn it around. It can't be made available until Nov 7. She wants to move in second week of October. That means they will be co-inhabiting the place for 3 weeks...in a one BR unit.
I am not excited about this arrangement. Sure they know each other, but first, I have no opportunity to really clean out the place; There will be a period where the current tenant has a lease and the new one is an unofficial "roommate" or vice versa; If I found a hole in the wall three months in I wouldn't know if it's caused by whom; I have 4 units with 6 parking spaces, and that would reduce to 5 for a few weeks; Plus other issues I haven't thought of that some of you may bring up.
Thoughts? Should I consider it or stick with the dates with no overlaps?