Miami tenants dropping off due to COVID

[Nat C.]

So Miami is now the COVID epicenter of the US. How thrilled am to own a dozen properties there. Argh.

I have a tenant on a one year lease who moved in in February, 2020.

She requested a lease clause allowing Airbnb and has been running her own Airbnb business out of the house.

She has informed me that due to the COVID situation in Miami that she is leaving immediately and moving back to her home city.

She told me she found a replacement tenant to take over the lease.

I have just spoken to her replacement tenant and he said that he will only sign a month to month lease and he also plans to continue the Airbnb operations there. He said that if Airbnb tanks, he wants the option to get out. 

ALSO he wants to reduce the rent from $2400 to $2000.

My background check of him came up clean but obviously I don’t like the offer or situation at all. However I don’t feel that my options are rosy either. If I outright refuse, I will be left with a vacant property, extended vacancy and re-leasing fees. 

The lease permits me to retain 2 months rent from the tenant for liquidated damages but I expect the actual cost to me will far exceed this.

What would you do if you were me?

I am thinking of countering at $2200 on a three month lease with the lease becoming a month to month contract thereafter. 

[Jean H.]

If I were you, I'd kick them both out, keep the furniture, and rent it as a 6 month furnished rental on Furnished Finders. Furnished Finders caters to traveling nurses, and because of Covid, we're getting a lot of traveling nurses that want a furnished medium term rental. You won't get as much as you would on Airbnb, but more than a regular long term rental. Might as well make use of the furniture she's leaving behind.

Of course, it depends on how big your unit is and whether it's near a major hospital.