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Updated about 6 years ago,
An unexpected win for the holidays
I have a recently purchased SFH that I had rented as of October 1st. In November I got notified by my PM that the tenant was breaking the lease as they found a home to purchase and they were moving out early December, paying through December 15th. Per the lease they paid two months rent to break the contract. I was a bit nervous as they were moving out during a bit of a dead season on top of explaining to insurance that my property was vacant. I just got notified that my property is rented with a lease starting January 1st! I wasn't expecting this to be such a big win but I only had two weeks of vacancy and collected an extra two months rent. I came out ahead $2500 and certainly can't complain. You hear so many bad stories I thought I would share a good one that pretty much doubled my ROI with little to no headache.
Unanswered questions
-Why do tenants sign a one year lease when they intend to buy within a month?
-Who would be willing to pay thousands and move for the second time inside two months?
I suppose it doesn't matter and I will never understand the financially irresponsible decisions of others, I do want to care for my tenants and I am glad they found a nice home! I will count this one as a win