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Updated about 9 years ago,
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