Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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 4 years ago,

User Stats

1
Posts
0
Votes
Nathan Moore
0
Votes |
1
Posts

One Tenant Leaves, While Tenant wants to remain

Nathan Moore
Posted

Recently, I've had a tenant (one of three) contact me that he will be vacating the our rental for another place with his girlfriend. The tenant just signed a lease extension, which will begin in a 15 days. 

This is the second time I've had roommate issues effect the term of a lease & am finding that leasing to roommates can be complicated.  Typically, I wouldn't mind tenants moving out if the tenants that are remaining are great tenants without any problems and can afford the rent.

My major concern is that when we accepted these tenants, we accepted them based upon their combined income (3x income/rent ratio).  Now, due to a tenant leaving, they no longer meet the rental requirements (even if they say they can pay the rent).  I was wondering what our rights are with the remaining tenants?  From my understanding, we would just keep the lease as-is & the tenant that is leaving is held liable in case of default. 

In addition, I was wondering what you do in order to discourage co-tenants from leaving in the middle of the lease.  Do you have clauses with fees for one tenant to leave as well as requirements to find a new tenant?  Can you consider one tenant leaving as breaking the lease?


Appreciate your thoughts & help.

Loading replies...