General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
Landlord options for Tenant Breaking a Lease
Would anyone be able to help on what my options are if a tenant breaks a lease. I have 3 people on the lease and one of them just walked out (daughter's boyfriend) and now the Mom and the daughter's salaries does not cover the rent and they want to end the lease in 15 days. What options (steps) do I have? Can I keep the deposit money? Where do I file to reflect the broken lease. Is the legal process pretty lengthy/expensive? I am willing to just keep the deposit and get new renters in there.
Thank you in advance for your response.
Raj