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Updated about 9 years ago on . Most recent reply
Tenant breaking lease
My tenant just informed us that they were terminating a 2-yr lease with 10 months remaining on contract. We have a signed, executed lease agreement and did not mutually agree to terminate lease. The monthly lease was $3,500 and this translates into $35,000 in lost revenue.
In the state of Hawaii, I have a duty to mitigate my losses by re-listing the property once I have possession on Dec 13th. If I am successful in finding a new tenant, I can then sue for damages, losses, expenses and including attorney fees.
Any thoughts or issues that I should be aware of that I might not be thinking about?
Your help and input is appreciated.
Aloha and Happy Holidays!
John
Most Popular Reply
Is there nothing in your lease about breaking the lease? In my leases I have a clause that entitles me to two months' rent. That being said, they can leave any not pay rent and trying to sue for damages is a pain.
Many times I've just told my tenants that I'll waive the 2-month break-lease fee is they're willing to help me find a new tenant. It's worked every time I've taken that approach.