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Updated almost 9 years ago,

User Stats

5
Posts
0
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Keith Fawcett
  • New to Real Estate
  • Atlanta, GA
0
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5
Posts

Multiple Tenants different lease terms?

Keith Fawcett
  • New to Real Estate
  • Atlanta, GA
Posted

Hi, I have multiple tenants on a 12-month lease that is up for renewal. One of them only want to stay for 6 months, but the other two want to stay for 12 months. Any advice on how I should handle the renewal?

  • Has anyone created a lease that made all parties jointly responsible, but allowed one to stay for, say, 6 months, and after the 6 months, the tenants staying for 12 months become the only responsible parties? 
  • Do you have any example language to put in the lease or as an addendum? 
  • How would you handle the deposit that was given when they signed the first lease?
  • How would you handle move out inspection?

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