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Updated about 9 years ago,

User Stats

52
Posts
16
Votes
Jon Rusnak
Pro Member
  • CPA
  • Palos Heights, IL
16
Votes |
52
Posts

Lease Termination, Tenant and Landlord Seeking a Middleground

Jon Rusnak
Pro Member
  • CPA
  • Palos Heights, IL
Posted

Hi Everyone - I would love your suggestions - 

Long term tenant ("Tenant") of 5 years has a good working relationship with the property manager ("Manager") of the building Tenant resides.  Tenant requested to terminate the lease and perceived that the Manager agreed to the lease termination for a termination fee of 1 months rent, which Tenant paid.  

There was a misunderstanding in the communication in that that termination of the lease was effective "with a new tenant".  Thereby Tenant would remain responsible for the terms of the original lease until a new tenant was found.  Manager and Tenant mutually agree that there was indeed a miscommunication and are looking for a solution where they could meet in the middle.  A new tenant has not yet been found and the terms under the original lease expire in June of 2016.  What would you propose?

  • Jon Rusnak
  • Loading replies...