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,
Tenant wants break lease with 1.5 years left.
I am in a strange situation. I have a tenant in one of my units and she has signed a 2 year lease. She is about 5 months in and now she is telling me that she "can't afford" the $1500/month rent and she will likely need to move soon.
She has been a good tenant for the 5 months she's been there... but now I'm between a rock and a hard place
First of all, what can I legally do about this? I don't want to ask her to pay out the remainder of the lease because that'd be pretty unrealistic. But I feel like just letting her out of the lease really screws me over.
Secondly, she is the kind of lady that has lived with all the finer things in life... so she has a boatload of stuff in that unit. I think ever square inch of that 1400sq/ft unit is packed with her luxury items. It'd take a full week of work just to pack that stuff into a moving tuck. If she "can't afford" to pay rent anymore, how do I get her out quickly so I can get a new tenant in it asap? Do I give her a deadline?