Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago on . Most recent reply

User Stats

53
Posts
42
Votes
Matt Nolan
  • Watertown, MA
42
Votes |
53
Posts

One tenant moving out. What to do with last months rent?

Matt Nolan
  • Watertown, MA
Posted

Hello Bigger Pockets,

I have a rental property in Watertown MA, and the lease is expiring soon.  I sent out a lease renewal letter and I just heard back from the tenants this afternoon.  

The rental has three tenants consisting of a couple (boyfriend/girlfriend) and a mutual friend.  I was informed today that the friend would no longer be living at the rental and will be moving in with her boyfriend.

My question is this: How do I go about separating/refunding last months rent?  I currently have an account dedicated to last months rent ($1,850).  Do I refund the $1,850 to the three of them and have the remaining couple cut a new check?  Do I have the couple cut me an additional check for the new outstanding balance ($616.67)?  Is there another option I'm missing entirely?

I would think this is a fairly common occurrence, so I'm looking to the collective wisdom of BP to set me on the right track.

Thanks in advance,

-  Matt Nolan

Most Popular Reply

User Stats

2,614
Posts
2,104
Votes
Kim Meredith Hampton
  • Real Estate Broker
  • St Petersburg
2,104
Votes |
2,614
Posts
Kim Meredith Hampton
  • Real Estate Broker
  • St Petersburg
Replied

@Matt Nolan do a roommate lease form having the tenant leaving sign that he is in fact vacating and understands that the deposit remains with the unit. The other two sign the document as well. The deposit always remains with the property until all tenants have vacated. They must work out the money amongst themselves, not your problem 

business profile image
Engel & Völkers | St. Pete
5.0 stars
14 Reviews

Loading replies...