Tenant breaking 5 yr lease, barely a yr in

[James Hsia]

We were thrilled to find a tenant in California who was willing to sign a long term lease due to a project he was working on. The caveat was the rent was set at below market and fixed for the 5 yrs (rookie mistake). The tenant just informed me he is planning to quit his job and will be breaking the lease. At this point what are my rights as a landlord? Do I have the right to keep his entire security deposit? Any suggestions or tips will be much appreciated!