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Updated over 10 years ago on . Most recent reply

User Stats

32
Posts
3
Votes
Brandon C.
  • Investor
  • Knoxville, TN
3
Votes |
32
Posts

Surprises are bad. I've had several lately. =(

Brandon C.
  • Investor
  • Knoxville, TN
Posted

You may have seen my post from a couple weeks ago about my tenant wanting out of the lease. I'll put the link below if you are interested in reading it. If you didn't see it, here are quick details:

  • Tenant called me to tell me he wanted to break our lease. We had completed 5 of the 10 months. 
  • He told me they purchased a house...The problem was that he informed me of this on THE DAY THEY CLOSED on the house. (rolling eyes smiley)
  • I told him he was responsible for the rent until I found a tenant, but he was worried about being able to make 2 payments. I offered him a lease buyout option after speaking with my attorney. The buyout stated he would forfeit his SD, and pay 1 month of rent. I'm confident I can get the place rented within the next month at a higher rate. 
  • I gave them until 12/27 to turn over the keys as part of the buyout. I finally ended up having to threaten pulling the buyout option because he kept delaying on signing the agreement. I finally got it back a couple days ago. 
  • I had a showing at the house today. First thing I noticed - the electricity and water was turned off. I specifically told him he was responsible for it until he turned the keys over. 
  • Not an expensive problem, but the blinds in 2 bedrooms were broken and will need to be replaced. 
  • I walked out back and found the vinyl siding had melted in a spot from where a grill lid had been left against it. The damage is about 2 feet wide and covers 2 pieces of vinyl. 

Luckily, I took a ton of photos and videos before they moved in. I also have a pretty detailed check-in list. 

I'm going to go ahead and turn the electricity back on on Monday. I really don't care about the blinds because they are cheap and maybe old (can't remember if i replaced them before they moved in). 

What are your thoughts on the damage to the vinyl? I'm pretty handy and can probably replace it, but there no way it will match. My initial thought is to hire a contractor to fix it and make the tenant pay for it. However, I'm trying to wondering if I just be happy with what I've gotten as far as the lease buyout and move on. 

Surprises are bad. =)

My other related post

Most Popular Reply

User Stats

44,587
Posts
65,806
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Jay Hinrichs
#1 All Forums Contributor
  • Real Estate Consultant
  • Summerlin, NV
65,806
Votes |
44,587
Posts
Jay Hinrichs
#1 All Forums Contributor
  • Real Estate Consultant
  • Summerlin, NV
Replied

@Brandon C.  SMALL potato's  if your going to be a land lord count yourself lucky this is all that happened   LOL>

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JLH Capital Partners

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