Monthly rent and Deposit dispute

[Juan Rosado]

Yesterday I encountered the following problems with a family living on one of my properties:

1. They said they are thinking on moving out before November 15, 2019 and they want a rent cut, meaning instead paying $750 for a full months rent, they want to pay half of it ($375.00). I told that in order to do this they should have gave a 30 day notice by before October 15, 2019. They said they did send the previous owner a notification (via text message), but he never answered back. I agreed to let them pay $375 if they move before November 15, 2019, but if they extend by even one day they had to pay the full months rent of $750. Do you think this was wise, or would you advice differently?

2. They are asking me if they will receive their $500 deposit back once they move. The problem is that this property has changed ownership three times in the past 3 years and I signed a document saying that the seller won't give the buyer (myself) the tenant deposit. What should I do? Should I contact the previous owner and ask if he could help me with this?

[Kenny Dahill]

@Juan Rosado, a few concerns here.

• 30-Day Notice:  Read the lease and follow the agreement.  Often leases will say 30-days prior to the next rent date.  Meaning a notice given on 10/15 is an indication that 11/1 will be their last rent.  It's not typically prorated.
• Notice Format:  Again, read the lease.  Does it state what format is acceptable?  It's hard to dispute verbal so it might say 'written notice' or 'email notice', etc.  Clarify that texting is an acceptable format to notify.
• Security Deposit:  When you buy a rental, you buy the current lease.  It's not the tenants responsibility to transfer the security deposits to the next landlords.  That falls onto the seller during due diligence and negotiations.  You might be SOL here but luckily $500 isn't too killer.
• Move-Out Inspection:  You have until Nov. 15th to get a list of Move-In check lists.  You can use this list as a means to justify any deposit reductions, but after 3 landlords I doubt that an inspection list is available.  You might have a hard time reducing any damages because there's no merit of quality before/after.

Best of luck.