Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

33
Posts
15
Votes
Brent Rieman
  • Rental Property Investor
  • The Shores of Lake Erie
15
Votes |
33
Posts

gracefully end lease with good tenant

Brent Rieman
  • Rental Property Investor
  • The Shores of Lake Erie
Posted

Im considering not offering a lease renewal with a good tenant.  The tenant has been in place since before I purchased the building 3 years ago.  They have been great, accommodating, pay ontime and have only caused me a little headache.   You may wonder what sane person would do this.  Well were getting ready to do a large renovation on our house and will need a place to live for 5-6 months.  This is the unit in my building(8units townhouse style) that, 

1- has a lease ending in the timeframe we need,
2-is most desirable unit in the building, its a larger end unit with alot of privacy. 

I have alot been kicking around the idea of turning one of the end units into a short term rental and after we move back into our renovated house, this would the perfect unit to do that with.   I have been very accommodating with the tenant over the years, they have had some health issues and have continually asked for 3 - 6 month lease's.  The conscience in me says dont be a d!$k but on the flip side, this my property, I put myself and my family through tons of stress and late night projects to purchase and own it, and if this it what I need from it why shouldn't I.

Most Popular Reply

User Stats

23
Posts
7
Votes
Nate Zachrich
  • Rental Property Investor
  • Findlay, OH
7
Votes |
23
Posts
Nate Zachrich
  • Rental Property Investor
  • Findlay, OH
Replied

As long as you understand the risks with removing the tenant: Good tenants aren't easy to come by, there are many upcoming legal challenges to short term rentals etc. It is your building and you can do what you wish. The best practice is to just be honest and upfront. I would give them notice as early as possible (I give at least 30 days notice). Also consider paying for their move, for the cost of a U-Haul you can relieve a lot of animosity and make it less likely they will damage/ steal stuff on the way out.
Please update us on how this goes.

Loading replies...