Tenants breaking lease early

[Matt Moldenhauer]

I have a nice young married couple at one of my rentals that recently informed me they're breaking their lease because they're under contract on their first house. I didn't know they were in the market, although i'm not really surprised. I hate to see them go and am happy for them, but i'm wondering how to handle the deposit and last two months of their contract. I told them we would work something out. I don't really think i'll have a problem renting the place, as it's in a great neighborhood. My initial thoughts were to put it on the market early and let them show it. Let them out of their contract early and return their deposit, less any repairs(which i doubt there will be any). I know they could use the money with things at their new house. Something that popped into my head though is setting precedent and possible problems down the road. Say i had a less than desirable tenant that broke their lease and I wasn't as willing to work with them. Does anyone have any experience with this or opinions?? Thanks! 

[Thomas S.]

Tenants break leases all the time, it is very common as tenants rarely place a lease ahead of their own life priorities. Simply inform them that they will be responsible for the rent/lease until such time as the place is re-rented. With their assistance you should be able to transition directly to a new tenant without a vacancy.

Return what is remaining of the deposit and move on.

If you do not find a replacement tenant by the time they move out they will be responsible for the rent , possibly the full two months. If that is the case you may expect a fight and might have to take them to court. Knowing you will force them to honour their lease if necessary will motivate them to assist in re-renting. 

Remember you are operating a business and it is them, not you, that have created the problem. Zero emotion, zero compassion, business first.