Need Advice ASAP - Couple Breaking Up & Lease Renewal

[Anne Caldwell]

Hi,

I have a SFH that I rented to a couple last year. I received a phone call from the gentleman to let me know that they have broken up. They were qualified together using both incomes.

I asked him who was going to stay in the house and he said "80%" it will be me.  The other person does not qualify on her own and would need a co-signer.  I also understand that she is not living at the house and is out of state although her things may still be htere.

The lease is coming up for renewal on April 30th (it automatically renews for a 12 month period).  My inclination was to just let it renew but the more I think about it, perhaps I should just re-write the lease with only him on it (he now qualifies on his own) and perhaps put her down as an occupant which would make financial obligations clear. 

I have never been through this before and my fear would be that she moves back in and he leaves.

Advice would be so appreciated!

[Nathan Gesner]

If he wants to stay, I would make him provide you with updated financial information showing he's fully capable of paying the rent on his own. Get her out and terminate the original lease. Sign a new month-to-month agreement with him as the only renter.

As mentioned before, I would probably stick with a month-to-month because of the additional risk.