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Updated over 3 years ago,

User Stats

711
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580
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Curtis Mears
  • Property Manager
  • Raleigh, NC
580
Votes |
711
Posts

Does Anyone Use Early Termination Fee

Curtis Mears
  • Property Manager
  • Raleigh, NC
Posted

In North Carolina, landlords are required by law to find a new tenant if an existing tenant decides they wish to break the lease for any reason. The existing tenant is only required to pay rent for the time before a new tenant is found. There is a benefit for me as the landlord in that there is zero vacancy. However, it seems more and more tenants are breaking leases and then I must make the effort to find new tenants. I am generally ok with this as again, zero vacancy, but, some tenants are breaking the lease after only a few months on a year lease. Does anyone know if I can include an early termination fee? If so, is there a limit on the amount?

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